Tri-Continental Co. (NYSE:TY) declared a quarterly dividend on Monday, March 9th, Wall Street Journal reports. Stockholders of record on Wednesday, March 18th will be paid a dividend of 0.265 per share by the investment management company on Thursday, March 26th. This represents a $1.06 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a boost from Tri-Continental’s previous quarterly dividend of $0.25.
Tri-Continental has increased its dividend payment by an average of 40.6% annually over the last three years and has raised its dividend every year for the last 10 years.
Shares of TY opened at $24.75 on Wednesday. Tri-Continental has a 52-week low of $23.94 and a 52-week high of $29.21. The business’s fifty day moving average is $27.91 and its 200-day moving average is $27.71.
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.
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