Tri-Continental Co. Declares Quarterly Dividend of $0.28 (NYSE:TY)

Tri-Continental Co. (NYSE:TY - Get Free Report) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be given a dividend of 0.2766 per share by the investment management company on Wednesday, March 26th. This represents a $1.11 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, March 18th.

Tri-Continental Stock Performance

Shares of NYSE TY traded up $0.44 during mid-day trading on Friday, reaching $30.84. 13,515 shares of the company were exchanged, compared to its average volume of 41,310. Tri-Continental has a twelve month low of $29.17 and a twelve month high of $34.82. The company's 50-day simple moving average is $32.14 and its 200-day simple moving average is $32.66.

Insiders Place Their Bets

In other news, Director Pamela G. Carlton sold 1,815 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the sale, the director now owns 101 shares of the company's stock, valued at approximately $3,154.23. The trade was a 94.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.66% 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.