N@N

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

^{Published on 2009-09-14 14:30:29 - Market Wire}
 

TORONTO, CANADA--(Marketwire - Sept. 14, 2009) - Canadian General Investments, Limited (TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI)(the Company) confirmed today that the $0.06 per common share dividend declared on August 31, 2009 to shareholders of record at the close of business on September 10, 2009 would be paid as scheduled on September 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 September 14, 2009, such ratio was approximately 3.5 times and therefore the common share dividend can be paid as scheduled.