Dividend Confirmation

RNS Number : 7998E

Canadian General Investments Ld

29 December 2009

 



NEWS RELEASE TRANSMITTED BY MARKETWIRE                                        

FOR:    CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.B, CGI.PR.C

LONDON STOCK EXCHANGE: CGI

December 29, 2009

Canadian General Investments, Limited

Confirms Payment of Special Year-End Capital Gains Dividend on December 30, 2009

TORONTO, CANADA -- Canadian General Investments, Limited (the Company) confirmed today that the $0.50 per common share special year-end capital gains dividend declared on December 14, 2009 to shareholders of record at the close of business on December 24, 2009 would be paid as scheduled on December 30, 2009.

Previously, it was not certain whether the Company would be permitted to pay the aforementioned dividend as a result of market conditions and a dividend payment restriction contained in its Class A, Series 2 and Series 3 Preference Share provisions, which preclude payment of a common share dividend unless, after giving effect thereto, the ratio of its Assets to Obligations (both as defined in the Preference Share provisions) exceeds 2.5 times. As at the close of business on December 29, 2009, such ratio was approximately 3.6 times and therefore the common share dividend can be paid as scheduled.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Jonathan A. Morgan

President & CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.mmainvestments.com

 

END

 

 

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