Tri-Continental Corporation Reports Third Quarter Distribution


BOSTON–(BUSINESS WIRE)–Tri-Continental Corporation (the “Company”) (NYSE: TY) today declared a third quarter ordinary income distribution of $0.2695 per common share and $0.6250 per preferred share. Distributions on the common shares will be paid on September 20, 2022 to common shareholders of record on September 12, 2022 and dividends on the preferred shares will be paid on October 3, 2022 to preferred shareholders of record on September 12, 2022. The ex-dividend date for Common Shares and Preferred Shares is September 9, 2022. The ordinary income distribution of $0.2695 per share on the Common Shares is consistent with the Company’s distribution policy.

The Company has paid dividends on its common shares for 78 consecutive years. The Company’s investment manager is Columbia Management Investment Advisers, LLC, a wholly owned subsidiary of Ameriprise Financial, Inc.

The Company’s distributions on the Common Shares will vary. The Company’s current distributions (as estimated by the Company based on current information) are derived from the Company’s earnings and profits. None of the current distribution from the Company is a return of capital (ie a return of some or all of your original investment in the Company).

The net asset value of common shares of the Company may not always correspond to the market price of such shares. Shares of many closed-end funds often trade at a discount to their net asset value. An investment in the Company is subject to stock market risk, which is the risk that the prices of the common shares of the Company will decline in the short or long term, which adversely affects the value of an investment in the Company. .

Securities selected for the Company using quantitative methods may perform differently from the market as a whole, and there can be no assurance that this methodology will enable it to achieve its objective. The Company’s portfolio investments are subject to market risk, which may affect a single issuer, a sector of the economy, an industry or the market as a whole. Fixed income investments, including convertible securities, are subject to credit risk, interest rate risk and prepayment and extension risk. These risks may be more pronounced for longer-term securities and high-yielding securities (“junk bonds”). In general, bond prices rise when interest rates fall and vice versa. Convertible securities are subject to both the risks of their type of security before conversion and their type of security after conversion. The Company’s use of leverage, including through its preferred shares, exposes it to greater risks due to unforeseen market movements, which can magnify losses and increase the volatility of returns .

You should carefully consider the Company’s investment objectives, risks, charges and expenses before investing. A prospectus containing information about the Company (including its investment objectives, risks, charges, expenses and other information) may be obtained by contacting your financial advisor or Columbia Management Investment Services Corp. at 800-345-6611. The prospectus is also available on the Securities and Exchange Commission’s EDGAR database. The prospectus should be read carefully before investing in the Company. There is no guarantee that the Company’s investment goals/objectives will be achieved or that distributions will be made, and you could lose money.

Tri-Continental Corporation is managed by Columbia Management Investment Advisers, LLC. This document is distributed by Columbia Management Investment Distributors, Inc., Member FINRA.

Columbia Threadneedle Investments is the global brand of the Columbia and Threadneedle group of companies.

Past performance does not guarantee future results.

Investment products are not federally or FDIC insured, are not deposits or obligations of any financial institution, or are not guaranteed by any financial institution, and involve investment risks, including including possible loss of capital and fluctuation in value.

© 2022 Columbia Management Investment Advisors, LLC. All rights reserved.

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