Tri-Continental Corporation (NYSE: TY) has declared its fourth quarter ordinary income distribution, with significant changes from the previous period. The distribution for Common Stock has increased to $0.2850 per share, indicating a positive change. Additionally, the total capital gain distribution for Common Stock has also seen a notable change, rising to $1.9520 per share. This consists of short-term capital gains of $0.3669 and long-term capital gains of $1.5851, demonstrating a substantial increase in both categories.
The Corporation has a longstanding history of paying dividends on its common stock for 80 consecutive years, showcasing its commitment to shareholders. The ex-dividend date for both the Common Stock and the Preferred Stock is December 13, 2024, with distributions on Common Stock set to be paid on December 23, 2024, and dividends on Preferred Stock to be paid on January 2, 2025.
The capital gain distribution, being a special distribution, offers stockholders the flexibility to receive it in various combinations of shares and cash, providing options to suit their preferences. It's important to note that the Corporation's distributions on common stock will vary, and the current distributions are based on the earnings and profits of the Corporation.
Tri-Continental Corporation is managed by Columbia Management Investment Advisers, LLC, a wholly-owned subsidiary of Ameriprise Financial, Inc. The Corporation's investment manager plays a crucial role in shaping its financial performance and distribution policies.
This announcement reflects the Corporation's focus on delivering value to its shareholders through dividends and capital gain distributions, underlining its financial strength and commitment to providing returns to investors. Following these announcements, the company's shares moved -0.2%, and are now trading at a price of $33.65. If you want to know more, read the company's complete 8-K report here.
