Tri-Continental (TY) declares notable dividend changes

Tri-Continental Corporation (NYSE: TY) has declared its second quarter ordinary income distribution with significant changes in the amounts per share compared to the previous period. The corporation announced a distribution of $0.2905 per share of Common Stock and $0.6250 per share of Preferred Stock for the second quarter. This represents a notable change from the previous period's distributions.

Additionally, the Corporation declared a total long-term capital gain distribution of $0.2878 per share of Common Stock, indicating a significant adjustment compared to the prior period's capital gain distribution.

The distributions on Common Stock are scheduled to be paid on June 18, 2024, to Common Stockholders of record on June 10, 2024, while dividends on Preferred Stock will be paid on July 1, 2024, to Preferred Stockholders of record on June 10, 2024. The ex-dividend date for both the Common Stock and the Preferred Stock is June 10, 2024.

It is worth noting that the Corporation has a history of paying dividends on its common stock for 80 consecutive years, a testament to its commitment to shareholder returns.

The Corporation’s investment manager, Columbia Management Investment Advisers, LLC, a wholly-owned subsidiary of Ameriprise Financial, Inc., oversees the management of the Corporation's investments.

Investors should be aware that the net asset value of the Corporation’s common shares may not always correspond to the market price of such shares, and shares of closed-end funds frequently trade at a discount from their net asset value, exposing investors to stock market risk.

Furthermore, the Corporation's portfolio investments are subject to market risk, and fixed-income investments, including convertible securities, are exposed to credit risk, interest rate risk, and prepayment and extension risk.

Investors considering an investment in the Corporation should carefully review the prospectus containing information about the Corporation, including its investment objectives, risks, charges, expenses, and other pertinent details before making any investment decisions. The prospectus can be obtained by contacting Columbia Management Investment Services Corp.

It is imperative for investors to understand that past performance does not guarantee future results, and investment products involve risks, including possible loss of principal and fluctuation in value.

Today the company's shares have moved 0.3% to a price of $30.82. For the full picture, make sure to review Tri-Continental's 8-K report.

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