XAI Madison Equity Premium Income Fund (MCN)
Financial Services · NYQ
Fundamentals
Valuation and ratings
XAI Madison Equity Premium Income Fund trades at USD5.59, close to the USD6.38 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 50 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 17.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
MCN dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.420 | 7 |
| 2025 | USD0.720 | 10 |
| 2024 | USD0.720 | 4 |
| 2023 | USD0.720 | 4 |
| 2022 | USD0.720 | 4 |
| 2021 | USD0.720 | 4 |
| 2020 | USD0.720 | 4 |
| 2019 | USD0.720 | 4 |
| 2018 | USD0.720 | 4 |
| 2017 | USD0.720 | 4 |
| 2016 | USD0.720 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About XAI Madison Equity Premium Income Fund
XAI Madison Equity Premium Income Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc. It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in reasonably priced growth (GARP) stocks of large and mid-cap companies. It also writes covered call options to make its investments. The fund employs fundamental analysis with a bottom-up stock picking approach, focusing on such factors as PEG ratios (price-earnings ratio to growth rate), financial strength, and industry leadership to create its portfolio. It benchmarks the performance of its portfolio against the CBOE S&P 500 Buy/Write Index. The fund conducts in-house research to make its investments. It was formerly known as Madison/Claymore Covered Call & Equity Strategy Fund. XAI Madison Equity Premium Income Fund was formed on May 6, 2004 and is domiciled in the United States.
MCN passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is XAI Madison Equity Premium Income Fund (MCN) undervalued?
Against our discounted cash flow estimate of USD6.38, MCN at USD5.59 is 14% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is MCN's P/E ratio?
MCN trades at 17.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does XAI Madison Equity Premium Income Fund (MCN) pay a dividend?
Yes. XAI Madison Equity Premium Income Fund yields 12.95% at the current share price. It has paid USD0.720 per share over the trailing twelve months. It has paid a dividend in each of the last 22 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.