Tri-Continental Corporation Declares First Quarter Distribution

Rhea-AI Summary

Tri-Continental Corporation (NYSE: TY) announced a first-quarter ordinary income distribution of $0.2900 per share for Common Stock and $0.6250 per share for Preferred Stock. Common Stockholders will receive their dividends on March 21, 2023, with a record date of March 13, 2023. Preferred Stockholders will be paid on April 3, 2023, also with a record date of March 13, 2023. The Corporation has consistently paid dividends on its Common Stock for 79 years. However, market risks and variations in distributions may affect investors' returns.

Positive

• Declared dividend of $0.2900 per share for Common Stock, demonstrating ongoing income generation.
• 79 consecutive years of dividend payment on Common Stock reflects a stable distribution history.

Negative

• Investment in common shares subject to stock market risk, which may negatively affect share value.
• No assurance that current distribution amounts will be maintained in the future.

BOSTON--(BUSINESS WIRE)-- Tri-Continental Corporation (the “Corporation”) (NYSE: TY) today declared a first quarter ordinary income distribution of $0.2900 per share of Common Stock and $0.6250 per share of Preferred Stock. Distributions on Common Stock will be paid on March 21, 2023 to Common Stockholders of record on March 13, 2023 and dividends on Preferred Stock will be paid on April 3, 2023 to Preferred Stockholders of record on March 13, 2023. The ex-dividend date for both the Common Stock and the Preferred Stock is March 10, 2023. The $0.2900 per share ordinary income distribution on the Common Stock is in accordance with the Corporation’s distribution policy.

The Corporation has paid dividends on its common stock for 79 consecutive years. The Corporation’s investment manager is Columbia Management Investment Advisers, LLC, a wholly-owned subsidiary of Ameriprise Financial, Inc.

The Corporation’s distributions on common stock will vary. The Corporation’s current distributions (as estimated by the Corporation based on current information) are from the earnings and profits of the Corporation. No amount of the Corporation’s current distribution consists of a return of capital (i.e., a return of some or all of your original investment in the Corporation).

The net asset value of the Corporation’s common 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. An investment in the Corporation is subject to stock market risk, which is the risk that market prices for the Corporation’s common shares may decline over short or long periods, adversely affecting the value of an investment in the Corporation.

Securities selected for the Corporation using quantitative methods may perform differently from the market as a whole, and there can be no assurance that this methodology will enable it to achieve its objective. The Corporation’s portfolio investments are subject to market risk, which may affect a single issuer, sector of the economy, industry or the market as a whole. Fixed-income investments, including convertible securities, are subject to credit risk, interest rate risk, and prepayment and extension risk. These risks may be more pronounced for longer-term securities and high-yield securities (“junk bonds”). In general, bond prices rise when interest rates fall and vice versa. Convertible securities are subject to both the risks of their security type prior to conversion as well as their security type after conversion. The Corporation’s use of leverage, including through its preferred stock, exposes it to greater risks due to unanticipated market movements, which may magnify losses and increase volatility of returns.

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 contacting your financial advisor or Columbia Management Investment Services Corp. at 800-345-6611. The prospectus can also be found on the Securities and Exchange Commission’s EDGAR database. The prospectus should be read carefully before investing in the Corporation. There is no guarantee that the Corporation’s investment goals/objectives will be met or that distributions will be made, and you could lose money.

Tri-Continental Corporation is managed by Columbia Management Investment Advisers, LLC. This material is distributed by Columbia Management Investment Distributors, Inc., member FINRA.

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

Past performance does not guarantee future results.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

© 2023 Columbia Management Investment Advisers, LLC. All rights reserved.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230303005053/en/

Stockholder contact:

800-345-6611, option 3

Media contact:

Lisa Feuerbach

617-897-9344

Lisa.feuerbach@columbiathreadneedle.com

Source: Tri-Continental Corporation

FAQ

What is the dividend distribution date for Tri-Continental Corporation's Common Stock?

The dividend for Common Stock will be paid on March 21, 2023.

When is the ex-dividend date for Tri-Continental Corporation's Preferred Stock?

The ex-dividend date for both Common and Preferred Stock is March 10, 2023.

What are the risks associated with investing in Tri-Continental Corporation (TY)?

Investing in Tri-Continental Corporation is subject to market risk, including potential declines in share value.

How long has Tri-Continental Corporation been paying dividends on its Common Stock?

Tri-Continental Corporation has paid dividends on its Common Stock for 79 consecutive years.

What is the dividend amount for Preferred Stock of Tri-Continental Corporation?

The dividend for Preferred Stock is $0.6250 per share.