Tri-Continental said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.29 per share ($1.15 annualized). Previously, the company paid $0.27 per share.
Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on June 21, 2023.
At the current share price of $26.38 / share, the stock's dividend yield is 4.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.78%, the lowest has been 4.70%, and the highest has been 12.35%. The standard deviation of yields is 1.52 (n=196).
The current dividend yield is 1.61 standard deviations below the historical average.
The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 129 funds or institutions reporting positions in Tri-Continental. This is a decrease of 7 owner(s) or 5.15% in the last quarter. Average portfolio weight of all funds dedicated to TY is 0.35%, an increase of 16.41%. Total shares owned by institutions decreased in the last three months by 2.45% to 6,428K shares.
What are Other Shareholders Doing?
Bard Financial Services holds 621K shares. In it's prior filing, the firm reported owning 619K shares, representing an increase of 0.36%. The firm increased its portfolio allocation in TY by 97,864.21% over the last quarter.
Lazard Asset Management holds 452K shares. No change in the last quarter.
Blue Bell Private Wealth Management holds 423K shares. In it's prior filing, the firm reported owning 430K shares, representing a decrease of 1.62%. The firm decreased its portfolio allocation in TY by 6.78% over the last quarter.
Allspring Global Investments Holdings holds 399K shares. In it's prior filing, the firm reported owning 371K shares, representing an increase of 6.80%. The firm increased its portfolio allocation in TY by 3.90% over the last quarter.
Raymond James & Associates holds 324K shares. In it's prior filing, the firm reported owning 326K shares, representing a decrease of 0.82%. The firm decreased its portfolio allocation in TY by 2.83% over the last quarter.
Tri-Continental Background Information
(This description is provided by the company.)
Tri-Continental Corporation has as target long-term capital growth and current income with a portfolio consisting primarily of equities and the flexibility to invest across a company's capital structure.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
