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Dividend Declaration - Special Year-End Dividend

Released 16:17 06-Dec-2017

RNS Number : 6072Y
Canadian General Investments Ld
06 December 2017
 

FOR:   CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

 

December 6, 2017

 

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 $0.04 per share payable on December 27, 2017 to shareholders of record at the close of business on December 21, 2017 ("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 $0.18 per common share, total cash dividend payments of $0.76 per common share in 2017 represent a yield to investors of 3.3% based on the December 5, 2017 closing market price of $23.10.

 

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
 
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Dividend Declaration - Special Year-End Dividend - RNS