2023 Madison Funds Tax Information

Capital Gain Distributions

Throughout the year, mutual funds realize gains and losses from selling securities held in their portfolios.  Mutual funds are required to distribute the net realized gains from these sales to shareholders each year.  If there are capital gains distributions to be paid, they will be declared to shareholders of record and distributed with the year-end ordinary dividends on the dates noted below.  Short-term capital gains distributions are taxed like ordinary income.

As of December 5, 2023, the estimated year-end capital gains distributions for the Madison Funds are as follows:

Funds Capital Gains Per Share ($)
Short-Term Long-Term
Madison Aggressive Allocation Fund None None
Madison Conservative Allocation Fund None None
Madison Core Bond Fund None None
Madison Covered Call & Equity Income Fund None None
Madison Diversified Income Fund None $1.61 – $1.62
Madison Dividend Income Fund None $0.91 – $0.92
Madison High Quality Bond Fund None None
Madison International Stock Fund None None
Madison Investors Fund $0.17 – $0.18 $1.93 – $1.94
Madison Mid Cap Fund $0.03 – $0.04 $0.15 – $0.16
Madison Moderate Allocation Fund None None
Madison Small Cap Fund None $0.01 – $0.02
Madison Sustainable Equity Fund None None
Madison Tax-Free National Fund None None
Madison Tax-Free Virginia Fund None None

Actual amounts are based on gains and losses realized by the Madison Funds through October 31.

Distribution of Ordinary Income Dividends

When mutual funds earn interest or dividends from securities held in their portfolios, it subtracts fund expenses and passes this “ordinary income” on to shareholders. Shareholders are notified on Form 1099-DIV (mailed in late January) of the actual amounts of any capital gains or ordinary income dividend distributions.

2023 Distribution Calendar

The distribution schedule for year-end ordinary income dividends and capital gains for the Madison Funds is noted below.

View a printer-friendly version.

Funds (Nasdaq Symbol, Fund #) Distribution Frequency Declaration Date Record Date Ex/Reinvest/
Payable Date		 Type
Core Bond Fund:
  • Class A (MBOAX; 110),
  • Class Y (MBOYX; 6610),
  • Class I (MBOIX; 8810),
  • Class R6 (MBORX; 8810),
Diversified Income Fund:
  • Class A (MBLAX; 111),
  • Class C (MBLCX; 511)
Tax-Free National Fund:
  • Class Y (GTFHX; 6397)
Tax-Free Virginia Fund:
  • Class Y (GTVAX; 6394)
 Monthly 01/27/2023 01/30/2023 01/31/2023 Income
02/24/2023 02/27/2023 02/28/2023 Income
03/29/2023 03/30/2023 03/31/2023 Income
04/26/2023 04/27/2023 04/28/2023 Income
05/26/2023 05/30/2023 05/31/2023 Income
06/28/2023 06/29/2023 06/30/2023 Income
07/27/2023 07/28/2023 07/31/2023 Income
08/29/2023 08/30/2023 08/31/2023 Income
09/27/2023 09/28/2023 09/29/2023 Income
10/27/2023 10/30/2023 10/31/2023 Income
11/28/2023 11/29/2023 11/30/2023 Income
12/19/2023 12/20/2023 12/21/2023 Income & Cap Gains
Covered Call & Equity Income Fund:
  • Class A (MENAX; 1155),
  • Class C (MENCX; 555),
  • Class Y (MENYX; 6655),
  • Class I (MENIX; 8855),
  • Class R6 (MENRX; 755)
Dividend Income Fund:
  • Class A (MADAX; 1779),
  • Class Y (BHBFX; 6401),
  • Class I (MDMIX; 8801)
  • Class R6 (MADRX; 781)
High Quality Bond Fund:
  • Class Y (MIIBX; 6391)
  • Class I (MIIRX; 8891)
 Quarterly 03/29/2023 03/30/2023 03/31/2023 Income
06/28/2023 06/29/2023 06/30/2023 Income
09/27/2023 09/28/2023 09/29/2023 Income
12/19/2023 12/20/2023 12/21/2023 Income & Cap Gains
Conservative Allocation Fund:
  • Class A (MCNAX; 165),
  • Class C (MCOCX; 565)
 Quarterly 03/29/2023 03/30/2023 03/31/2023 Income
06/28/2023 06/29/2023 06/30/2023 Income
09/27/2023 09/28/2023 09/29/2023 Income
12/26/2023 12/27/2023 12/28/2023 Income & Cap Gains
International Stock Fund:
  • Class A (MINAX; 122),
  • Class Y (MINYX; 6622)
Investors Fund:
  • Class A (MNVAX; 199),
  • Class Y (MINVX; 6399),
  • Class I (MIVIX; 8899)
  • Class R6 (MNVRX; 796),
Mid Cap Fund:
  • Class A (MERAX; 123),
  • Class Y (GTSGX; 6623),
  • Class I (MDCIX; 8823)
  • Class R6 (MMCRX; 723),
Small Cap Fund:
  • Class A (MASMX; 124),
  • Class Y (BVAOX; 6624),
  • Class I (MSCIX; 8824)
  • Class R6 (MSCRX; 744)
Sustainable Equity Fund:
  • Class Y (MFSYX; 6625),
  • Class I (MFSIX; 8825)
 Annual 12/21/2023 12/22/2023 12/26/2023 Income & Cap Gains
Aggressive Allocation Fund:
  • Class A (MAGSX; 167),
  • Class C (MAACX; 567)
Moderate Allocation Fund:
  • Class A (MMDAX; 166),
  • Class C (MMDCX; 566)
 Annual 12/26/2023 12/27/2023 12/28/2023 Income & Cap Gains