Canadian General Investments, Limited

Canadian General Investments, Limited

December 29, 2009 17:13 ET

Canadian General Investments, Limited Confirms Payment of Special Year-End Capital Gains Dividend on December 30, 2009

TORONTO, CANADA--(Marketwire - Dec. 29, 2009) - Canadian General Investments, Limited (the Company) (TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) confirmed today that the $0.50 per common share special year-end capital gains dividend declared on December 14, 2009 to shareholders of record at the close of business on December 24, 2009 would be paid as scheduled on December 30, 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 29, 2009, such ratio was approximately 3.6 times and therefore the common share dividend can be paid as scheduled.

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