Tri-Continental Corporation (NYSE: TY) has announced its first quarter ordinary income distribution for 2025. The distribution for Common Stock is set at $0.2766 per share, while the Preferred Stock distribution stands at $0.6250 per share. The payment for Common Stockholders of the record date March 18, 2025, will occur on March 26, 2025, and for Preferred Stockholders of the same record date, the payment will be made on April 1, 2025.
It's notable that the Corporation has paid dividends on its common stock for 81 consecutive years. However, the Corporation emphasizes that current distributions are based on earnings and profits, with no amount consisting of a return of capital.
The press release also highlights that the net asset value of the Corporation’s common shares may not always correspond to the market price, and shares of many closed-end funds often trade at a discount from their net asset value, underscoring the complexities of the investment landscape.
The Corporation’s investment manager is Columbia Management Investment Advisers, LLC, a wholly-owned subsidiary of Ameriprise Financial, Inc., and the investment products are not insured by the FDIC, NCUA, or any federal agency.
It's important to note that past performance does not guarantee future results, and there is no guarantee that the Corporation’s investment goals/objectives will be met or that distributions will be made, with potential investment risks including possible loss of principal and fluctuation in value. The market has reacted to these announcements by moving the company's shares 0.9% to a price of $31.48. For more information, read the company's full 8-K submission here.
