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Tri-Continental Corp. | $2.50 Cumulative Preferred Stock (TY.PR)
Prospectus excerpt: Tri-Continental Corp., $2.50 Cumulative Preferred Stock, liquidation preference $50, redeemable anytime at the company's option on 30 days notice at $55.00 per share plus accrued dividends, and not subject to mandatory redemption. Distributions of $2.50 (5%) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1. Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders. Tri-Continental Corporation is managed by J. & W. Seligman & Co. Incorporated, a New York based investment manager and advisor, which was founded in 1864. , Secondary Prospectus PDF », TY Page »
Alternate symbology: | TY-, TY-P, TYpr | Redeemable?: | Yes | Call Date: | 4/28/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Liquidation Preference: | $50.00 | Recent Market Price: | $44.40 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-5.60 (-11.20%) | Annualized Dividend: | 2.5 | Recent Ex-Date: | 3/8/2024 | Current Yield: | 5.63% | Original Coupon: | 5.00% | Pay Period: | Quarterly | Pay Dates: | 1-Jan, 1-Apr, 1-Jul, 1-Oct | CDx3 Compliance Rating: |
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Tri-Continental is registered as a diversified, closed-end management investment company. The Fund's investment objective is to produce future growth of both capital and income, while providing reasonable income. The Fund invests across a company's investable capital structure, including stocks, bonds and convertible securities. Preferred: TY.PR Open the TY Information Page »
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