Tri Continental Corporation (TY) Plans Quarterly Dividend of $0.25

Tri Continental Corporation (NYSE:TY) announced a quarterly dividend on Friday, June 9th, RTT News reports. Investors of record on Monday, June 19th will be paid a dividend of 0.2509 per share by the investment management company on Tuesday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Thursday, June 15th.

Tri Continental Corporation has raised its dividend payment by an average of 10.4% annually over the last three years.

Shares of Tri Continental Corporation (NYSE:TY) traded down 0.08% during midday trading on Friday, hitting $24.09. 58,074 shares of the company traded hands. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.45 and a beta of 0.94. Tri Continental Corporation has a 52 week low of $19.55 and a 52 week high of $24.38. The stock has a 50 day moving average of $23.97 and a 200-day moving average of $23.06.

Dividend History for Tri Continental Corporation (NYSE:TY)

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In other news, insider David L. King acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of $22.86 per share, with a total value of $228,600.00. Following the acquisition, the insider now directly owns 130,100 shares of the company’s stock, valued at $2,974,086. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.66% of the stock is owned by corporate insiders.

Tri Continental Corporation 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.

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