MCN CEF — XAI Madison Equity Premium Income Fund

XAI Madison Equity Premium Income Fund (MCN)

MCN is a low-cost CEF. its distribution rate is 13.26%, its trailing-12-month yield is 13.26%. Dividend Vision Distribution Safety Score™ is 91/100 (Safe). Total return is 215.1% over the past 22.1 years, 741.1 points behind SPY at 956.2%.

At the current 13.26% distribution rate, a $10,000 investment would generate approximately $1,326 per year, or $110.50 per month.

MCN performance versus SPY

Price and return data through 2026-09-21.

Total return is 215.1% over the past 22.1 years, 741.1 points behind SPY at 956.2%. Over the past year its total return — price change plus distributions reinvested — is -0.5%. Its deepest 1-year drawdown was 8.6%.

MCN key facts

Distribution Safety Score™

91 · Safe

Safety-Adjusted Yield

12.07%

Issuer

XA Investments

Asset type

CEF

Asset class

Equity

Inception date

07/28/2004

Distribution rate

13.26%

Distribution frequency

Monthly

Trailing yield

13.26%

5-year average yield

10.47

Last close

$5.43 (as of 2026-09-21)

NAV

$6.11

Premium / discount

11.13% discount

Market cap

$113,994,536

Average volume

50440.0

Next dividend

$0.06

Last ex-dividend date

09/15/2026

Next payment date

10/01/2026

Beta

0.68

How Dividend Vision calculates yield and returns

Distribution rate (13.26%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (13.26%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: XA Investments or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MCN risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.6%.

Who may consider MCN — and who may not

MCN may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score. It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from XA Investments.