|
|
The security
may be offered and sold only to a qualified institutional buyer under
Rule 144A of the Securities Act of 1933. These notes are exchangeable
at maturity, based on the terms of the respective notes, for shares of
common stock of a company or cash at a maturity value which is generally
determined as follows:
The principal amount of the notes plus or minus
the lesser of A) the lowest return of the companies respective
stock price(s) determined at maturity from the date of purchase of the
notes, or B) the percent limit indicated below in parentheses:
|
|
|
|
(a)
|
Herbalife
Ltd., JetBlue Airways Corporation and Qwest Communications International
Inc. (+10
%
)
|
|
|
|
|
|
|
(b)
|
Gemstar-TV
Guide International, Inc., OfficeMax, Inc. and Qwest Communications International
Inc. (+20
%
)
|
|
|
|
|
|
|
(c)
|
Delta
Air Lines, Inc., Discover Financial Services and SAVVIS, Inc. (no limit)
|
|
|
|
|
|
|
(d)
|
Gemstar-TV
Guide International, Inc., UTI Worldwide Inc. and Yahoo! Inc. (no limit)
|
|
|
|
|
|
|
(e)
|
Network
Appliance, Inc., Rite Aid Corporation and Yahoo! Inc. (+20
%
)
|
|
|
|
|
|
|
(f)
|
Boston
Scientific Corporation, Comverse Technology, Inc. and Marvell Technology
Group Ltd. (no limit)
|
|
|
|
|
|
|
(g)
|
Comverse
Technology, Inc., Kohls Corporation and Marvell Technology Group
Ltd. (no limit)
|
|
|
|
|
|
|
(h)
|
Archer
Daniels Midland Company, Countrywide Financial Corporation and Foot Locker,
Inc. (+10
%
)
|
|
|
|
|
|
|
(i)
|
Adams
Respiratory Therapeutics, Inc., Seagate Technology LLC and Smurfit-Stone
Container Corporation (+5
%
)
|
|
|
|
|
|
|
(j)
|
Adams
Respiratory Therapeutics, Inc., Alcatel-Lucent ADR and UTI Worldwide
Inc. (+9
%
)
|
|
|
|
|
|
|
(k)
|
QIMONDA
AG ADR, Rite Aid Corporation and Washington Mutual, Inc. (+20
%
)
|
|
|
|
|
|
|
(l)
|
Boston
Scientific Corporation, Fortress Investment Group LLC and Rite Aid Corporation
(no limit)
|
|
|
|
|
|
|
ADR American
Depositary Receipts.
|
|
|
Security
Valuation Securities traded on an exchange are valued at the last
sales price on the primary exchange or market on which they are traded.
Securities not listed on an exchange or security market, or securities
for which there is no last sales price, are valued at the mean of the
most recent bid and asked prices or are valued by J. & W. Seligman & Co.
Incorporated (the Manager) based on quotations provided by
primary market makers in such securities. Securities for which market
quotations are not readily available (or are otherwise no longer valid
or reliable) are valued at fair value determined in accordance with procedures
approved by the Board of Directors. This can occur in the event of, among
other things, natural disasters, acts of terrorism, market disruptions,
intra-day trading halts, and extreme market volatility. The determination
of fair value involves subjective judgments. As a result, using fair
value to price a security may result in a price materially different
from the prices used by other investment companies to determine net asset
value or the price that may be realized upon the actual sale of the security.
Short-term holdings that mature in more than 60 days are valued at current
market quotations. Short-term holdings maturing in 60 days or less are
valued at current market quotations or amortized cost if the Manager
believes it approximates fair value.
|
Stockholder Services
Tri-Continental provides a number of services to make maintaining an investment in its Common Stock more convenient. Please consult Tri-Continentals prospectus for the terms and
conditions of these services.
Distribution Policy.
Holders of Tri-Continental Common Stock will receive quarterly distributions equal to a minimum of 2.75% of the net asset value of Tri-Continentals Common
Stock on the last business day of the preceding calendar quarter (approximately 11% annually). The payment options for receiving distributions are:
-
100% of distribution to be invested in additional shares of Tri-Continental
-
75% of distribution to be invested in additional shares, 25% of distribution to be paid in cash
-
50% of distribution to be invested in additional shares, 50% of distribution to be paid in cash
-
100% of distribution to be paid in cash
You can change your payment election at any time by contacting your financial advisor or Stockholder Services at 800-TRI-1092.
Automatic Dividend Investment and Cash Purchase Plan.
Subject to the terms and conditions set forth in the prospectus, Stockholders may automatically purchase additional shares with
distribution payments. There is no charge for this service. Stockholders may also, subject to the terms and conditions of the prospectus, purchase additional shares directly from the Corporation. There is a service fee of a maximum of $2.00 for
each cash purchase transaction.
Automatic Cash Withdrawal Plan.
Stockholders who hold Common Stock with a market value of $5,000 or more may elect to receive a fixed amount
from their investment at regular intervals by selling their shares to the Corporation.
Traditional Individual Retirement Account (IRA).
Stockholders who have earned income and
are under age 70
1
/
2
may contribute up to $4,000 per year to a Traditional IRA for 2007 ($5,000 per year in 2008). A working or non-working spouse may
also contribute up to $4,000 to a separate Traditional IRA for 2007 ($5,000 per year in 2008). Additionally, individuals who reach age 50 prior to the end of a taxable year may make catch-up contributions to a Traditional IRA of
up to $1,000. Contributions to a Traditional IRA may be deductible or non-deductible. If you are single and
not
covered by an employers retirement plan, your
contribution will always be deductible. For individuals who are covered by a plan, contributions will be fully deductible if your modified adjusted gross income (MAGI) in 2007 is less than $51,000 ($53,000 in 2008). For spouses who are both
covered by a plan, contributions will be fully deductible if your MAGI is less than $83,000 ($85,000 in 2008). If one spouse does not work or is not covered by a retirement plan, that spouses contribution will be fully deductible
provided your household MAGI does not exceed $156,000 ($159,000 in 2008). If your contribution is not deductible, you may still take advantage of the tax-deferred accumulation of earnings in your Traditional IRA.
Rollover IRA
.
You may be eligible to roll over a distribution of assets received from another IRA, a qualified employee benefit plan, or tax-deferred
annuity into a Rollover IRA with Tri-Continental. To avoid a tax penalty, the transfer to a Rollover IRA must occur within 60 days of receipt of the qualifying distribution. If you do not make a direct transfer of a distribution from a qualified
employee benefit plan or a tax-deferred annuity to a Rollover IRA, the payor of the distribution must withhold 20% of the distribution.
11
Stockholder Services
(continued)
Roth IRA
.
You (and a working or non-working spouse) may each make an after-tax contribution of up to $4,000 per year ($5,000 in 2008) to a
Roth IRA provided you have earned income and meet the eligibility requirements. Your MAGI must be less than $95,000 for individuals ($101,000 in 2008) or $150,000 for married couples ($159,000 in 2008) to be eligible to make a full
contribution to a Roth IRA. You are eligible to make a partial Roth IRA contribution if your MAGI is below $110,000 for individuals ($116,000 in 2008) or $160,000 for married couples ($169,000 in 2008). Total combined contributions
to a Roth IRA and a Traditional IRA cannot exceed $4,000 in any year. Additionally, individuals who reach age 50 prior to the end of a taxable year may make catch-up contributions to either a Roth IRA or Traditional IRA of up to
$1,000. Earnings grow tax-free and will be distributed to you tax-free and penalty-free provided that you hold your account for at least five years and you take the
distribution either after age 59½, for disability, upon death, or to make a first-time home purchase (up to $10,000). Unlike a Traditional IRA, you may
contribute to a Roth IRA even if you are over age 70½ (if you have earned income), and you are not required to take minimum distributions at age
70½. You may convert an existing Traditional IRA to a Roth IRA to take advantage of tax-free distributions. You must pay taxes on any earnings and
deductible contributions in your Traditional IRA when converting it to a Roth IRA. Talk to your financial advisor for more details on converting your Traditional IRA.
Retirement Planning Qualified Plans.
Unincorporated businesses and the self-employed may take advantage of the same benefits in their retirement plans that are available to
corporations. Contribution levels can go as high as 100% of earned income (reduced by plan contributions), to a maximum of $45,000 per participant ($46,000 in 2008). For retirement plan purposes, no more than $225,000 may be taken into
account as earned income under the plan in 2007 ($230,000 in 2008). Social Security integration and employee vesting schedules are also available as options in the Tri-Continental prototype retirement plans. Although you already may be
participating in an employers retirement plan, you may be eligible to establish another plan based upon income from other sources, such as directors fees.
Retirement Plan Services
provides information about our prototype retirement plans. The toll-free telephone number is (800) 445-1777 in the US and (212) 682-7600 outside the
US.
Stock Repurchase Program.
On March 20, 2007, Tri-Continental suspended the open-market purchases portion of its stock repurchase program pending the outcome of the vote of
Stockholders of the Corporation on a proposal to implement a Distribution Policy. The Distribution Policy was approved by Stockholders on May 30, 2007, and the Board of Directors authorized the repurchase of common stock in the open market if the
discount to net asset value is greater than 5%. The Board intends such repurchases to moderate the growth in the number of outstanding shares resulting from the investment by Stockholders of distributions received under the Distribution Policy. The
Corporation recommenced its open market purchases in August 2007 following the first distribution paid under the Distribution Policy.
On November 15, 2007, the Board of Directors voted to renew Tri-Continentals stock repurchase program. The program allows the Corporation to repurchase up to 5% of its common stock in the open market from January 1,
2008 through December 31, 2008, as long as its discount to NAV exceeds 5%.
12
Board of Directors
Maureen Fonseca
(3)
|
|
William C. Morris
|
Head of School,
The
Masters School
|
|
Chairman and Director,
J. & W.
Seligman & Co.
|
Trustee,
Newark
Academy, New York State
|
|
Incorporated, Carbo Ceramics
Inc., Seligman
|
Association of Independent
Schools,
|
|
Advisors, Inc., and Seligman
Services, Inc.
|
and Greens Farms Academy
|
|
Director,
Seligman
Data Corp.
|
Commissioner,
Middle
States Association
|
|
President and Chief Executive
Officer,
|
|
|
The Metropolitan Opera Association
|
John R. Galvin
(1,3)
|
|
|
Dean Emeritus,
Fletcher
School of Law
|
|
Leroy C. Richie
(1,3)
|
and Diplomacy at Tufts University
|
|
Counsel,
Lewis & Munday,
P.C.
|
Chairman Emeritus,
American
Council
|
|
Director,
Vibration
Control Technologies, LLC
|
on Germany
|
|
Lead Outside Director,
Digital
Ally Inc. and
|
|
|
Infinity, Inc.
|
John F. Maher
(1,3)
|
|
Director and Chairman,
Highland
Park Michigan
|
Retired President and
Chief Executive Officer,
|
|
Economic Development Corp.
|
Great Western Financial Corporation
and its
|
|
Chairman,
Detroit
Public Schools Foundation
|
principal subsidiary, Great
Western Bank
|
|
|
|
|
Robert L. Shafer
(2,3)
|
Frank A. McPherson
(2,3)
|
|
Ambassador and Permanent
Observer of the Sovereign
|
Retired Chairman of the
Board and Chief Executive
|
|
Military Order of Malta
to the United Nations
|
Officer
,
Kerr-McGee Corporation
|
|
|
Director,
DCP
Midstream GP, LLP, Integris
|
|
James N. Whitson
(1,3)
|
Health, Oklahoma Medical
Research Foundation,
|
|
Retired Executive Vice
President and Chief Operating
|
Oklahoma Foundation for Excellence
in Education,
|
|
Officer,
Sammons
Enterprises, Inc.
|
National Cowboy and Western
Heritage Museum, and
|
|
Director,
CommScope,
Inc.
|
Oklahoma City Museum of Art
|
|
|
|
|
Brian T. Zino
|
Betsy S. Michel
(2,3)
|
|
Director and President,
|
Attorney
|
|
J. & W. Seligman & Co.
Incorporated
|
Trustee,
The
Geraldine R. Dodge Foundation and
|
|
Director,
Seligman
Advisors, Inc. and
|
Drew University
|
|
Seligman Services, Inc.
|
|
|
Chairman,
Seligman
Data Corp.
|
|
|
Member of the Board of
Governors,
|
|
|
Investment Company Institute
|
|
|
|
|
|
|
|
|
Member:
|
(1) Audit Committee
|
|
|
|
(2) Director Nominating Committee
|
|
|
|
(3) Board Operations Committee
|
13
|
|
|
Executive Officers
|
|
|
|
William C. Morris
|
|
Thomas G. Rose
|
Chairman
|
|
Vice President
|
Brian T. Zino
|
|
Lawrence P. Vogel
|
President and Chief Executive Officer
|
|
Vice President and Treasurer
|
John B. Cunningham
|
|
Frank J. Nasta
|
Vice President
|
|
Secretary
|
Eleanor T.M. Hoagland
|
|
Marco F. Acosta
|
Vice President and Chief Compliance Officer
|
|
Assistant Vice President
|
Charles W. Kadlec
|
|
|
Vice President
|
|
|
|
|
|
|
|
|
Additional Fund Information
|
|
|
|
|
Manager
|
|
Important Telephone Numbers
|
J. & W. Seligman & Co. Incorporated
|
|
(800) TRI-1092
|
Stockholder Services
|
100 Park Avenue
|
|
(800)
445-1777
|
Retirement Plan Services
|
New York, NY 10017
|
|
(212)
682-7600
|
Outside the United States
|
Stockholder Service Agent
|
|
(800)
622-4597
|
24-Hour Automated
|
Seligman Data Corp.
|
|
|
Telephone Access Service
|
100 Park Avenue
|
|
|
|
New York, NY 10017
|
|
|
Mail Inquiries To:
|
|
|
P.O. Box 9759
|
|
|
Providence, RI 02940-9759
|
|
|
This report is intended only for the information of Stockholders who have received the current prospectus covering shares of Common Stock of Tri-Continental Corporation, which contains information about investment
objectives, risks, management fees and other costs. The prospectus should be read carefully before investing and may be obtained by calling Stockholder Services at 800-TRI-1092.
|
END OF THIRD QUARTER REPORT
|
|
14
Tri Continental (NYSE:TY)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Tri Continental (NYSE:TY)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024