Tri-Continental Co. (TY) to Issue $0.23 Quarterly Dividend

Tri-Continental Co. (NYSE:TY) declared a quarterly dividend on Monday, March 12th, Wall Street Journal reports. Shareholders of record on Monday, March 19th will be given a dividend of 0.2301 per share by the investment management company on Tuesday, March 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, March 16th.

Tri-Continental has raised its dividend by an average of 15.9% annually over the last three years.

Tri-Continental (NYSE:TY) traded up $0.01 during mid-day trading on Monday, reaching $27.53. The company’s stock had a trading volume of 29,476 shares, compared to its average volume of 80,095. Tri-Continental has a 52 week low of $22.63 and a 52 week high of $28.32.

In related news, Director Pamela G. Carlton purchased 2,100 shares of Tri-Continental stock in a transaction on Tuesday, April 10th. The stock was acquired at an average price of $15.55 per share, for a total transaction of $32,655.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.66% of the company’s stock.

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Tri-Continental Company Profile

Tri-Continental Corporation (the Fund) is a diversified, closed-end management investment company. The Fund’s objective is to produce future growth of both capital and income while providing reasonable current incomes. The Fund’s permissible investments include preferred and common stocks, convertible securities, including convertible preferred stocks and convertible bonds, debt securities, repurchase agreements, derivatives, including options, futures contracts and equity-linked notes, illiquid securities and securities of foreign issuers, including emerging markets issuers.

Dividend History for Tri-Continental (NYSE:TY)

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