SmarterDividends
CPZ

Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) Dividend

Calamos Long/Short Equity & Dynamic Income Term Trust · Financial Services · Asset Management · monthly payer

$12.70

Undervalued · +129% Add to Portfolio

As of Nov 5, 2026, Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) pays a monthly dividend of $0.14 per share, or $1.68 a year, a 13.13% yield at its $12.70 share price. The next ex-dividend date is Nov 13, 2026, paid Nov 20, 2026. It has a dividend safety grade of B.

Forward Yield

13.13%

Annual Dividend

$1.68

Payout Ratio

2341%

5-Yr Growth

4.6%

Ex-Date

Nov 13, 2026

Frequency

Monthly

Key facts about CPZ's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 5, 2026, Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) has a forward dividend yield of 13.13%, based on an annual dividend of $1.68 per share and a share price of $12.70.
  • As of Nov 5, 2026, CPZ's dividend safety grade from SmarterDividends is B (71 out of 100), which rates the dividend as safe.
  • CPZ has never cut its regular dividend in the payment history SmarterDividends has on record.
  • CPZ's next ex-dividend date is Nov 13, 2026, with payment on Nov 20, 2026. Shares must be owned before that date to receive the dividend.
  • CPZ's dividend has grown at an average rate of 4.6% a year over the past five years.
  • As of Nov 5, 2026, CPZ's 13.13% yield is 27% above its five-year average yield of 10.34%.
  • As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for CPZ is $29.05 per share, 129% above the $12.70 share price, so CPZ screens as undervalued.
  • Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) pays its dividend monthly, 12 times a year.
  • Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) has raised its regular dividend 4 times and cut it 0 times across the 82 payments on record since 2019. Its most recent change was a 7.7% increase to $0.140 per share, going ex-dividend on Jul 12, 2021.
Cite this page

SmarterDividends, "CPZ Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/CPZ

Is CPZ a good dividend stock?

Yes, with caveats

Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) pays a monthly dividend yielding 13.13% ($1.68/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Never cut its dividend on record

Risks

  • Elevated payout ratio (2341%)
  • Very high yield can signal elevated risk
  • Share price is down over the past 5 years

Key Data

Dividend Yield
13.13%
Payout Ratio
2341%
Annual Dividend
$1.68
5-Yr Avg Growth
4.6%
Ex-Dividend Date
Nov 13, 2026
Years of Growth
0
Frequency
monthly
Beta
—
Market Cap
$249.3M
P/E Ratio
181.4
5-Yr Total Return
-34%
52-Week Range
$12.27 – $15.34
Dividend Safety
B · 71/100
Ever Cut?
No

CPZ dividend raises and cuts

Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) has raised its regular dividend 4 times and cut it 0 times across the 82 payments on record since 2019. Its most recent change was a 7.7% increase to $0.140 per share, going ex-dividend on Jul 12, 2021.

Ex-dateChangeOld → newMove
Jul 12, 2021Raise$0.130 → $0.140+7.7%
Feb 11, 2021Raise$0.120 → $0.130+8.3%
Dec 11, 2020Raise$0.110 → $0.120+9.1%
Feb 13, 2020Raise$0.0420 → $0.110+161.9%
Every CPZ payment →Download every raise and cut (CSV)
CPZ ex-dividend date & scheduleNext ex-date Nov 13, 2026 · full ex-dividend historyView →CPZ dividend historyEvery payment, totals by year, raises and cutsView →CPZ dividend calculator100 shares pay $168.00 a year, $14.00 each monthCalculate →CPZ total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is CPZ a good dividend stock?

Yes, with caveats. Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) pays a monthly dividend yielding 13.13% ($1.68/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Is CPZ undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, CPZ's fair value is about $29.05 versus a $12.70 share price — so it looks undervalued (+129% vs. fair value).

Is CPZ's dividend safe?

CPZ has a dividend-safety grade of B (71/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is CPZ's fair value?

Our blended fair-value estimate for CPZ is about $29.05 per share, roughly 129% above the current $12.70 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is CPZ a buy, hold, or sell?

We don't issue formal ratings, but on the data CPZ screens as "yes, with caveats" and undervalued. Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) pays a monthly dividend yielding 13.13% ($1.68/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will CPZ cut its dividend?

CPZ earns a dividend-safety grade of B (71/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does CPZ pay a dividend?

Yes. Calamos Long/Short Equity & Dynamic Income Term Trust pays a monthly dividend of about $1.68 per share annually, a forward yield of roughly 13.13%.

How much dividend does 100 shares of CPZ pay?

At $1.68 per share a year, 100 shares of CPZ pay $168.00 a year in dividends before tax, about $14.00 each month. Buying them costs about $1,270 at the Nov 5, 2026 price.

What is CPZ's dividend yield?

As of Nov 5, 2026, CPZ's forward dividend yield is 13.13%, based on a $1.68 annual dividend and a $12.70 share price.

What is CPZ's dividend per share?

As of Nov 5, 2026, CPZ pays $1.68 per share per year, distributed on a monthly basis.

What is CPZ's dividend payout ratio?

As of Nov 5, 2026, CPZ's payout ratio is 2341% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has CPZ grown its dividend?

CPZ does not currently have a long dividend-growth streak on record.

When is the next CPZ ex-dividend date?

As of Nov 5, 2026, the next ex-dividend date on record for CPZ is Nov 13, 2026.

Income Calculator

At $1.68 / yr per share

Per payment (monthly)$14.00
Annual$168.00
Monthly avg$14.00
Full CPZ dividend calculator →

Similar Dividend Stocks

JPMJPMJPMorgan Chase & Co.1.87%Financial ServicesVVVisa Inc.0.71%Financial ServicesMAMAMastercard Incorporated0.52%Financial ServicesBACBACBank of America Corporation2.48%Financial Services

Compare CPZ

CPZ vs JPMCPZ vs VCPZ vs MACPZ vs BAC

Explore more

Lists and tools related to CPZ