Tri-Continental Corporation Declares Second Quarter Distribution
Tri-Continental (NYSE: TY) declared a second quarter distribution of $0.2905 per share for Common Stock and $0.6250 per share for Preferred Stock. Additionally, a long-term capital gain distribution of $0.2878 per Common Stock share was announced. The Common Stock distribution will be paid on June 18, 2024, and the Preferred Stock distribution on July 1, 2024, to shareholders of record as of June 10, 2024. Shareholders have the option to receive the capital gain distribution in various combinations of cash and stock. The emphasized that current distributions are generated from earnings and profits, not a return of capital. The net asset value of the ’s shares may not align with market prices, and the investment carries stock market risks. The company is managed by Columbia Management Investment Advisers, a subsidiary of Ameriprise Financial.
- Declared second quarter ordinary income distribution of $0.2905 per share for Common Stock and $0.6250 per share for Preferred Stock.
- Announced long-term capital gain distribution of $0.2878 per Common Stock share.
- Shareholders can opt for capital gain distribution in cash or stock combinations.
- Distributions are from earnings and profits, not a return of capital.
- 80 consecutive years of dividend payments.
- The net asset value of shares may not correspond to market prices, potentially leading to investment undervaluation.
- Investment in the is subject to market risks, including declines in stock and fixed-income securities.
- Use of leverage may magnify losses and increase return volatility.
- Fixed-income investments are subject to credit risk, interest rate risk, and prepayment and extension risk.
- No assurance that the 's investment methodology will achieve its objectives.
The Corporation has paid dividends on its common stock for 80 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.
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.
© 2024 Columbia Management Investment Advisers, LLC. All rights reserved.
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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 declared by Tri-Continental for the second quarter?
When will Tri-Continental pay the Common Stock distribution?
What is the ex-dividend date for Tri-Continental 's distributions?
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