Prospectus excerpt: Tri-Continental Corp., $2.50 Cumulative Preferred Stock, liquidation preference $50, redeemable anytime at the company's option on 30 days notice at $55.00 per share plus accrued dividends, and not subject to mandatory redemption. Distributions of $2.50 (5%) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1. Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders. Tri-Continental Corporation is managed by J. & W. Seligman & Co. Incorporated, a New York based investment manager and advisor, which was founded in 1864.
Tri-Continental is registered as a diversified, closed-end management investment company. The Fund's investment objective is to produce future growth of both capital and income, while providing reasonable income. The Fund invests across a company's investable capital structure, including stocks, bonds and convertible securities.
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