Tri-Continental Corporation (NYSE: TY) Announces Second Quarter Distribution
2008年5月16日 - 4:34AM
ビジネスワイヤ(英語)
The Board of Directors of Tri-Continental Corporation (NYSE: TY)
today declared a second quarter distribution of $0.540 per share of
Common Stock and $0.625 per share of Preferred Stock. Distributions
on Common Stock will be paid on June 19, 2008 to Common
Stockholders of record on June 10, 2008, and distributions on
Preferred Stock will be paid on July 1, 2008 to Preferred
Stockholders of record on June 10, 2008. The ex-dividend date for
both the Common Stock and for the Preferred Stock is June 6, 2008.
Common Stockholders may elect to receive all or a portion of their
distribution in additional shares. The $0.540 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 return of capital. Common
Stockholders have four payment options on how they may elect to
receive their quarterly distributions: 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 Stockholders may change their
payment election at any time by contacting their financial advisor
or Stockholder Services at 800-TRI-1092. Tri-Continental
Corporation also held its 2008 Annual Meeting of Stockholders today
in Baltimore, Maryland. Stockholders were asked to vote on two
recommendations: the election of four Directors and the
ratification of Deloitte & Touche LLP as auditors for 2008. The
four Directors elected at the meeting are Dr. Maureen Fonseca, Ms.
Betsy S. Michel, Mr. James N. Whitson, and Mr. Brian T. Zino whose
current terms would have expired at the 2008 Annual Meeting. Their
new terms will expire in 2011. Stockholders also ratified the
appointment of Deloitte & Touche LLP as independent auditors of
Tri-Continental for 2008. Deloitte & Touche LLP and its
predecessor firms have been auditors for Tri-Continental since its
inception in 1929. 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/objectives
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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