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Canadian General Investments, Limited: Canadian General Investments, Limited Declares Estimated Dividend on Common Shares

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^{Published in Business and Finance on Friday, February 27th 2009 at 14:49 GMT, Last Modified on 2009-02-27 14:50:34 by Market Wire}  

TORONTO, CANADA--(Marketwire - Feb. 27, 2009) - Canadian General Investments, Limited (the Company) (TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) has declared an "estimated" regular quarterly cash dividend of $0.06 per share payable on March 15, 2009 to common shareholders of record at the close of business on March 11, 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 on February 27, 2009 was approximately 2.6 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 March 15, 2009.

The Company will make a further announcement regarding payment prior to March 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.