Estimated Dividend Declaratio

RNS Number : 3501D

Canadian General Investments Ld

30 November 2009

 



NEWS RELEASE TRANSMITTED BY MARKETWIRE                                        

FOR:    CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.B, CGI.PR.C

LONDON STOCK EXCHANGE: CGI

November 30, 2009

Canadian General Investments, Limited

Declares Estimated Dividend on Common Shares

TORONTO, CANADA -- Canadian General Investments, Limited (the Company) has declared an "estimated" regular quarterly cash dividend of $0.06 per share payable on December 15, 2009 to common shareholders of record at the close of business on December 10, 2009.

The dividend is being filed with the TSX as an "estimated dividend" as a result of a dividend payment restriction contained in the Company's Class A, Series 2 and Series 3 Preference Share provisions. This restriction provides that the Company shall not pay a dividend on its common shares unless after giving effect thereto, the ratio of its Assets to Obligations (both as defined in the Preference Share provisions) exceeds 2.5 times. Although the coverage ratio as at the close of business November 30, 2009 was approximately 3.6 times, as a result of market conditions, it is not certain at today's date whether the Company will still meet the coverage requirement on December 15, 2009.

The Company will make a further announcement regarding payment prior to December 15, 2009. In the event that payment of the common share dividend is deferred, the dividend will be paid to registered shareholders as of the original record date at such later time as the Company determines that it can properly be paid.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Jonathan A. Morgan

President & CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.mmainvestments.com

 

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