Tri-Continental Co. (TY) to Issue Quarterly Dividend of $0.29 on June 25th

Tri-Continental Co. (NYSE:TY) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.29 per share by the investment management company on Wednesday, June 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Monday, June 16th. This is a 4.8% increase from Tri-Continental’s previous quarterly dividend of $0.28.

Tri-Continental Stock Performance

Tri-Continental stock opened at $30.89 on Friday. The stock’s 50-day moving average is $29.89 and its 200-day moving average is $31.64. Tri-Continental has a 12 month low of $26.54 and a 12 month high of $34.82.

Insider Transactions at Tri-Continental

In other news, Director Pamela G. Carlton sold 1,815 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.23, for a total value of $56,682.45. Following the transaction, the director now directly owns 101 shares in the company, valued at $3,154.23. This trade represents a 94.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Tri-Continental

An institutional investor recently raised its position in Tri-Continental stock. Royal Bank of Canada increased its stake in Tri-Continental Co. (NYSE:TY) by 30.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,484 shares of the investment management company’s stock after buying an additional 13,321 shares during the quarter. Royal Bank of Canada owned about 0.11% of Tri-Continental worth $1,732,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Company Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.