Dividend Declaration - Special Year-End Dividend

RNS Number : 3052Z

Canadian General Investments Ld

09 December 2014

 



NEWS RELEASE TRANSMITTED BY MARKETWIRED

FOR:   CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.C, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

DECEMBER 9, 2014

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 $0.28 per share payable on December 29, 2014 to shareholders of record at the close of business on December 23, 2014 ("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 $0.12 per common share, total cash dividend payments of $0.76 per common share in 2014 represent a yield to investors of 3.9% based on the December 8, 2014 closing market price of $19.30.

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Jonathan A. Morgan

President & CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.canadiangeneralinvestments.ca

 

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