BOSTON--(BUSINESS WIRE)--
The members of the Board of Tri-Continental Corporation (the
“Corporation”) (NYSE: TY) today announced their consideration and
unanimous election of William A. Hawkins to the Corporation’s Board of
Directors, filling a seat vacated by Stephen R. Lewis, Jr., since his
retirement from the Board on January 1, 2015. In addition to his duties
as a director, Mr. Hawkins will also serve on the Board’s Audit
Committee, Compliance Committee, Executive Committee, and Investment
Review Committee. Mr. Hawkins also serves on the board of
directors/trustees of other Columbia funds, including one other
closed-end fund and certain open-end funds.
At the Corporation’s 85th Annual Meeting of Stockholders (the
2015 Meeting), to be held on April 13, 2015 in Minneapolis, MN,
Stockholders will be asked to elect Mr. Hawkins to hold office until the
2017 Annual Meeting of Stockholders and until his successor is elected
and qualifies. In addition, as previously announced, three of the
Corporation’s directors will be standing for re-election to the Board at
the 2015 Meeting. This and other information relating to the Meeting,
including additional details of the Meeting place and time, will be
described in a notice of meeting and proxy statement that the
Corporation intends to file with the Securities and Exchange Commission.
The Corporation is managed by Columbia Management Investment Advisers,
LLC. This material is distributed by Columbia Management Investment
Distributors, Inc., member FINRA.
Investors should consider the investment objectives, risks, charges,
and expenses of the Corporation carefully before investing. A prospectus
containing information about the Corporation (including its investment
objectives, risks, charges, expenses, and other information about the
Corporation) may be obtained by contacting your financial advisor or
visiting www.columbiamanagement.com.
The prospectus should be read carefully before investing in the
Corporation. For more information, please call 1-800-345-6611 or visit
columbiamanagement.com.
Investment products are not federally or FDIC-insured, are not deposits
or obligations of, or guaranteed by any financial institution, and
involve investment risks including possible loss of principal and
fluctuation in value.
© 2015 Columbia Management Investment Advisers, LLC. All
rights reserved.
AdTrax #1136664
The net asset value of shares may not always correspond to the market
price of such shares. Shares of many closed-end funds frequently trade
at a discount from their net asset value. Tri-Continental Corporation is
subject to stock market risk, which is the risk that stock prices
overall will decline over short or long periods, adversely affecting the
value of an investment in the Corporation. The Corporation may invest in
foreign securities, which involve certain risks not associated with
investments in U.S. companies, including political, regulatory,
economic, social, and other conditions or events occurring in the
particular country, as well as fluctuations in its currency and the
risks associated with less developed custody and settlement practices.
Risks are particularly significant in emerging markets. The
Corporation’s use of leverage exposes it to greater risks due to
unanticipated market movements, which may magnify losses and increase
volatility of returns. The Corporation’s use of derivatives introduces
risks possibly greater than the risks associated with investing directly
in the investments underlying the derivatives. A relatively small price
movement in an underlying investment may result in a substantial gain or
loss. There are risks associated with fixed income investments,
including credit risk, interest rate risk, and prepayment and extension
risk. In general, bond prices rise when interest rates fall and vice
versa. This effect is more pronounced for longer-term securities.
For Tri-Continental Corporation
Stockholder contact:
Gary
Terpening, 212-850-1533
gary.a.terpening@ampf.com
or
Media
contact:
Steven Connolly, 612-671-4146
steven.x.connolly@ampf.com
Source: Tri-Continental Corporation