Canadian General Investments Ld Dividend Declaration - Special Year-End Dividend (2468R)
08 December 2016 - 3:43AM
UK Regulatory
TIDMCGI
RNS Number : 2468R
Canadian General Investments Ld
07 December 2016
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
December 7, 2016
Canadian General Investments, Limited
Declares a Special Dividend on Common Shares
TORONTO, CANADA -- Canadian General Investments, Limited ("CGI"
or "the Company") today declared a special dividend of $0.12 per
share payable on December 28, 2016 to shareholders of record at the
close of business on December 22, 2016 ("the Dividend"). The
Dividend is a capital gains dividend for purposes of the Income Tax
Act (Canada).
Since CGI qualifies as an investment corporation for Canadian
income tax purposes, the payment of capital gains dividends allows
the Company to recover taxes paid, or payable, on realized capital
gains. Non-residents of Canada will not be subject to Canadian
withholding tax on the Dividend.
Including the quarterly dividends of $0.16 per common share,
total cash dividend payments of $0.76 per common share in 2016
represent a yield to investors of 4.1% based on the December 6,
2016 closing market price of $18.70.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca
This information is provided by RNS
The company news service from the London Stock Exchange
END
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