Canadian General Investments, Limited

Canadian General Investments, Limited

December 14, 2009 17:41 ET

Canadian General Investments, Limited Confirms Payment of Common Share Dividend on December 15, 2009

TORONTO, CANADA--(Marketwire - Dec. 14, 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 November 30, 2009 to shareholders of record at the close of business on December 10, 2009 would be paid as scheduled on December 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 December 14, 2009, such ratio was approximately 3.6 times and therefore the common share dividend can be paid as scheduled.

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