Canadian General Investments, Limited Declares a Special Dividend on Common Shares
December 06 2017 - 10:56AM
Canadian General Investments, Limited (“CGI” or “the
Company”) (TSX:CGI) (TSX:CGI.PR.D) (LSE:CGI) 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.
MorganPresident & CEOPhone: (416) 366-2931Fax: (416)
366-2729e-mail: cgifund@mmainvestments.comwebsite:
www.canadiangeneralinvestments.ca
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