An anonymous director reports

CALDWELL U.S. DIVIDEND ADVANTAGE FUND DECLARES DISTRIBUTIONS FOR Q2 2024

Caldwell Investment Management Ltd., the manager of Caldwell U.S. Dividend Advantage Fund, has declared distributions on the actively managed ETF (exchange-traded fund) series of the fund to unitholders of record as indicated herein. The monthly distribution rate of 3.8 cents per unit of the ETF series represents an attractive annualized yield on net assets of approximately 2.8 per cent.

ETF series unitholders also have the option to participate in the distribution reinvestment plan (DRIP) offered by the fund, which provides investors with the ability to automatically reinvest distributions and realize the benefits of compounded growth. Unitholders can enroll in the DRIP program by contacting their investment adviser.

The ETF series of Caldwell U.S. Dividend Advantage Fund trades on the Toronto Stock Exchange under the ticker symbol UDA.

For further information, please visit the company's or contact it at 416-593-1798 or 1-800-256-2441.

The fund was first offered to the public as a closed-end investment on May 28, 2015, and was converted into an open-end mutual fund effective as of Nov. 15, 2018, with all outstanding units designated as Series F units. The ETF series of the fund was launched on March 18, 2020. Performance of the fund prior to the conversion date would have differed had the fund been subject to the same investment restrictions and practices of the current open-end mutual fund.