Tri-Continental Corporation (NYSE: TY) Declares First Quarter Distribution
15 2월 2008 - 6:49AM
Business Wire
The Board of Directors of Tri-Continental Corporation (NYSE: TY)
today declared a first quarter distribution of $0.633 per share of
Common Stock and $0.625 per share of Preferred Stock. Distributions
on Common Stock will be paid on March 26, 2008 to Common
Stockholders of record on March 18, 2008, and distributions on
Preferred Stock will be paid on April 1, 2008 to Preferred
Stockholders of record on March 18, 2008. The ex-dividend date for
both the Common Stock and for the Preferred Stock is March 14,
2008. Common Stockholders may elect to receive all or a portion of
their distribution in additional shares. The $0.633 per share
distribution on the Common Stock is in accordance with the
Corporation�s distribution policy, which calls for quarterly
distributions to Common Stockholders equal to 2.75% of the net
asset value (NAV) attributable to the Corporation�s Common Stock at
the end of the prior calendar quarter (or approximately 11%
annually), consisting of distributions of income, and one or both
of net realized capital gains and returns of capital.
Tri-Continental Corporation is one of the nation�s largest,
diversified, publicly traded closed-end equity investment companies
and has paid dividends for 64 consecutive years. The Corporation is
managed by J. & W. Seligman & Co. Incorporated, a New
York-based investment manager and advisor, which was founded in
1864. Seligman Advisors, Inc. is the principal underwriter of the
Seligman mutual funds. The net asset value of shares may not always
correspond to the market price of such shares. Shares of many
closed-end funds frequently trade at a discount from their net
asset value. Tri-Continental Corporation is subject to stock market
risk, which is the risk that stock prices overall will decline over
short or long periods, adversely affecting the value of an
investment in the Corporation. Distributions by the Corporation
under its new distribution policy may include a return of capital.
A return of capital is not net profits of the Corporation (i.e., a
return on your investment) but instead a return of a portion of
your original investment. There is no guarantee that the
Corporation�s investment goals/objective will be met, and you could
lose money. You should consider the investment objectives, risks,
charges, and expenses of the Corporation carefully before
investing. A prospectus containing information about the
Corporation (including its investment objectives, risks, charges,
expenses, and other information) may be obtained by calling
800-TRI-1092. The prospectus should be read carefully before
investing in the Corporation.
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