TORONTO, CANADA, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (“CGI” or “the Company”) (TSX: CGI, CGI.PR.D) (LSE: CGI) has declared a quarterly dividend of $0.21 per share payable on December 15, 2020 to common shareholders of record at the close of business on November 30, 2020 (“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.
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.