Tri Continental Corporation (NYSE:TY) Increases Dividend to $2.32 Per Share

Tri Continental Corporation (NYSE:TY) announced a quarterly dividend on Tuesday, November 18th. Stockholders of record on Friday, December 12th will be given a dividend of 2.3154 per share by the investment management company on Monday, December 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 27.4%. The ex-dividend date of this dividend is Friday, December 12th. This is a 772.4% increase from Tri Continental’s previous quarterly dividend of $0.27.

Tri Continental Trading Up 0.8%

Shares of NYSE TY opened at $33.75 on Wednesday. The stock has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $32.72. Tri Continental has a 12-month low of $26.54 and a 12-month high of $34.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. HM Payson & Co. bought a new stake in shares of Tri Continental during the third quarter valued at about $35,000. Ameritas Advisory Services LLC acquired a new position in Tri Continental during the 2nd quarter valued at about $39,000. BNP Paribas Financial Markets raised its position in shares of Tri Continental by 529.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock worth $40,000 after buying an additional 1,059 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Tri Continental during the 1st quarter worth about $48,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Tri Continental by 49.7% in the 1st quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company’s stock worth $83,000 after acquiring an additional 877 shares during the period. Institutional investors own 10.22% of the company’s stock.

About Tri Continental

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.