Calamos Tax Center 

As a result of tax law changes in 2003, all or a portion of your ordinary income dividend from a fund may be taxed at a lower rate of 15% (or 5% for shareholders in the 15% or lower tax bracket) rather than the higher marginal rates applicable to ordinary income.

Qualified dividends are generally defined as distributions from domestic corporations and certain qualified foreign corporations. A portion of a fund's dividend may not qualify for the lower tax rates, if it's derived from non-qualified sources, such as interest income and short-term gains.

The amount of your dividend that's eligible for the lower tax rates is reported in Box 1b of your Form 1099-DIV mailed in January 2006. To be eligible for the lower tax rates, you must have held your shares for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the fund.