Tri-Continental Corporation Declares Third Quarter Distribution
September 01 2023 - 9:00AM
Business Wire
Tri-Continental Corporation (the “Corporation”) (NYSE:
TY) today declared a third quarter ordinary income
distribution of $0.2607 per share of Common Stock and $0.6250 per
share of Preferred Stock. Distributions on Common Stock will be
paid on September 19, 2023 to Common Stockholders of record on
September 11, 2023 and dividends on Preferred Stock will be paid on
October 2, 2023 to Preferred Stockholders of record on September
11, 2023. The ex-dividend date for both the Common Stock and the
Preferred Stock is September 8, 2023. The $0.2607 per share
ordinary income distribution on the Common Stock is in accordance
with the Corporation’s distribution policy.
The Corporation has paid dividends on its common stock for 79
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. This material is distributed by Columbia
Management Investment Distributors, Inc., member FINRA.
Columbia Threadneedle Investments is the global brand name of
the Columbia and Threadneedle group of companies.
Past performance does not guarantee future results.
The Corporation is not insured by the FDIC, NCUA or any federal
agency, is not a deposit or obligation of, or guaranteed by any
financial institution, and involves investment risks including
possible loss of principal and fluctuation in value.
© 2023 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
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