Tri-Continental Co. (NYSE:TY) announced a quarterly dividend on Monday, March 12th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, March 16th.
Tri-Continental has increased its dividend payment by an average of 15.9% per year over the last three years.
Tri-Continental (NYSE TY) traded up $0.01 during trading hours on Monday, hitting $27.53. The company had a trading volume of 29,476 shares, compared to its average volume of 80,095. Tri-Continental has a 12-month low of $22.63 and a 12-month high of $28.32.
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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.
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