Calamos Dynamic Convertible and Income Fund
CCDFinancial Services · Stock · monthly payer
Forward Yield
9.18%
Annual Dividend
$2.34
Payout Ratio
27%
5-Yr Growth
3.1%
Ex-Date
Aug 14, 2026
Frequency
Monthly
Summary
As of August 2026, Calamos Dynamic Convertible and Income Fund (CCD) yields 9.18% ($2.34 per share annually), with a blended fair-value estimate of $33.40 — +35% upside, so it screens as undervalued. Dividend safety grade: A (81/100).
Is CCD a good dividend stock?
YesCalamos Dynamic Convertible and Income Fund (CCD) pays a monthly dividend yielding 9.18% ($2.34/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Never cut its dividend on record
- Comfortable payout ratio (27%)
- Top-tier dividend safety score
Risks
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.18%
- Payout Ratio
- 27%
- Annual Dividend
- $2.34
- 5-Yr Avg Growth
- 3.1%
- Ex-Dividend Date
- Aug 14, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- —
- Market Cap
- $742.3M
- P/E Ratio
- 3.0
- 5-Yr Total Return
- -17%
- 52-Week Range
- $19.99 – $26.10
- Dividend Safety
- A · 81/100
- Ever Cut?
- No
Frequently Asked Questions
CCD Price — Last 12 Months
Daily close
Price Return
1 Year
+26%
3 Years
+28%
5 Years
-17%
52-Week Range
$19.99 – $26.10
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CCD worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Calamos Dynamic Convertible and Income Fund is $33.40 per share, versus a market price of $24.74. That implies 35% of upside — a margin of safety of about 26%.
Fair Value
$33.40
Current Price
$24.74
Upside
+35%
Margin of Safety
26%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
At today's price, the market is pricing in about -2.4% annual free-cash-flow growth. We model 3.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.3% discount rate (CAPM), 3.1% stage-1 growth, 2.5% terminal growth, $8.68 EPS, $2.34 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CCD Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 14, 2026 | — | $0.1950 | regular |
| Jun 12, 2026 | — | $0.1950 | regular |
| May 14, 2026 | — | $0.1950 | regular |
| Apr 14, 2026 | — | $0.1950 | regular |
| Mar 13, 2026 | — | $0.1950 | regular |
| Feb 13, 2026 | — | $0.1950 | regular |
| Dec 30, 2025 | — | $0.1950 | regular |
| Dec 12, 2025 | — | $0.1950 | regular |
| Nov 14, 2025 | — | $0.1950 | regular |
| Oct 15, 2025 | — | $0.1950 | regular |
| Sep 15, 2025 | — | $0.1950 | regular |
| Aug 14, 2025 | — | $0.1950 | regular |
| Jul 14, 2025 | — | $0.1950 | regular |
| Jun 12, 2025 | — | $0.1950 | regular |
Income Calculator
At $2.34 / yr per share
