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Canadian General Investments, Limited: Canadian General Investments, Limited Confirms Payment of Common Share Dividend on March

^{Published on 2009-03-13 15:44:30, Last Modified on 2009-03-13 15:44:51 - Market Wire}
 

TORONTO, CANADA--(Marketwire - March 13, 2009) - Canadian General Investments, Limited (the Company) (TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) confirmed today that the $0.06 per common share dividend declared on February 27, 2009 to shareholders of record at the close of business on March 11, 2009 would be paid as scheduled on March 15, 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 March 13, 2009, such ratio was approximately 2.6 times and therefore the common share dividend can be paid as scheduled.