Canadian General Investments, Limited Increases Common Share Quarterly Dividend by 50%
11 Februar 2014 - 7:55PM
Marketwired
Canadian General Investments, Limited Increases Common Share
Quarterly Dividend by 50%
TORONTO, CANADA--(Marketwired - Feb 11, 2014) - Canadian General
Investments, Limited (CGI or the Company)
(TSX:CGI)(TSX:CGI.PR.C)(TSX:CGI.PR.D)(LSE:CGI) has declared a
quarterly dividend on its common shares.
Concurrently, the Board of Directors of the Company advanced a
change in its approach to common share dividend payments.
Henceforth, it is the Board's intention, when prudent, for CGI to
provide its common shareholders with steady to rising quarterly
dividends. The capital gains facility, whereby the Company is able
to recoup capital gains taxes owing or payable when it distributes
capital gains dividends to its common shareholders, would continue
to be used, but the year-end special dividend would be
de-emphasized and more of the annual distributions would be paid to
common shareholders in the form of the four quarterly dividends.
The Board believes this change should provide common shareholders
with greater reliability as to their expected dividend income and
potentially greater scope for share price appreciation.
Accordingly, the Board announced that it is increasing the
regular quarterly cash dividend to $0.12 per share, reflecting a 4
cent or 50% increase over the previous quarter's dividend. The
dividend is payable on March 15, 2014 to common shareholders of
record at the close of business on February 28, 2014.
This dividend is designated as an "eligible dividend" for
purposes of the Income Tax Act (Canada).
CGI is a closed-end equity fund, focused on medium to long-term
investments in primarily Canadian corporations. Its objective is to
provide better than average returns to investors through prudent
security selection, timely recognition of capital gains/losses and
appropriate income generating instruments.
Canadian General Investments, LimitedJonathan A. MorganPresident
& CEO(416) 366-2931(416)
366-2729cgifund@mmainvestments.comwww.canadiangeneralinvestments.ca
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