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Tri-Continental

NYSE:TY
Snowflake Description

Flawless balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TY
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
  • Tri-Continental is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
TY Share Price and Events
7 Day Returns
0.4%
NYSE:TY
3.1%
US Capital Markets
1.6%
US Market
1 Year Returns
-2.4%
NYSE:TY
-11%
US Capital Markets
3.2%
US Market
TY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tri-Continental (TY) 0.4% 0.5% 13% -2.4% 32.7% 31.6%
US Capital Markets 3.1% 1% 11.6% -11% 57.3% 58.2%
US Market 1.6% 2.1% 12.8% 3.2% 38.6% 43.6%
1 Year Return vs Industry and Market
  • TY outperformed the Capital Markets industry which returned -11% over the past year.
  • TY underperformed the Market in United States of America which returned 3.2% over the past year.

TY Value

 Is Tri-Continental undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tri-Continental to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tri-Continental.

NYSE:TY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $26.58 * 12.3%
$3.27
Book Value of Equity per Share Median Book Value from the past 5 years. $26.58
Discount Rate (Cost of Equity) See below 9.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:TY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 21%) (0%))
1.104
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.104 * 5.96%)
9.31%

Discounted Cash Flow Calculation for NYSE:TY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Tri-Continental is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:TY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.3% – 9.31%) * $26.58)
$0.79
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.79 / (9.31% - 2.73%)
$12.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $26.58 + $12.02
$38.6
NYSE:TY Discount to Share Price
Calculation Result
Value per share (USD) From above. $38.60
Current discount Discount to share price of $26.31
= -1 x ($26.31 - $38.60) / $38.60
31.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tri-Continental is available for.
Intrinsic value
32%
Share price is $26.31 vs Future cash flow value of $38.6
Current Discount Checks
For Tri-Continental to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tri-Continental's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tri-Continental's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tri-Continental's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tri-Continental's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:TY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-1.40
NYSE:TY Share Price ** NYSE (2019-03-19) in USD $26.31
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 24.96x
United States of America Market PE Ratio Median Figure of 3,056 Publicly-Listed Companies 17.77x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tri-Continental.

NYSE:TY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:TY Share Price ÷ EPS (both in USD)

= 26.31 ÷ -1.40

-18.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tri-Continental is loss making, we can't compare its value to the US Capital Markets industry average.
  • Tri-Continental is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Tri-Continental's expected growth come at a high price?
Raw Data
NYSE:TY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -18.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.21x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Tri-Continental, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tri-Continental's assets?
Raw Data
NYSE:TY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $26.58
NYSE:TY Share Price * NYSE (2019-03-19) in USD $26.31
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,154 Publicly-Listed Companies 1.89x
NYSE:TY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:TY Share Price ÷ Book Value per Share (both in USD)

= 26.31 ÷ 26.58

0.99x

* Primary Listing of Tri-Continental.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tri-Continental is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Tri-Continental's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Tri-Continental has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TY Future Performance

 How is Tri-Continental expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tri-Continental has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.4%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tri-Continental expected to grow at an attractive rate?
  • Unable to compare Tri-Continental's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tri-Continental's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Tri-Continental's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:TY Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:TY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:TY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 61 -75
2018-09-30 61 62
2018-06-30 60 199
2018-03-31 60 239
2017-12-31 59 279
2017-09-30 58 262
2017-06-30 57 246
2017-03-31 58 215
2016-12-31 59 184
2016-09-30 59 88
2016-06-30 59 -8
2016-03-31 58 -21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tri-Continental is high growth as no earnings estimate data is available.
  • Unable to determine if Tri-Continental is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:TY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tri-Continental Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TY Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -1.40
2018-09-30 1.15
2018-06-30 3.68
2018-03-31 4.42
2017-12-31 5.09
2017-09-30 4.79
2017-06-30 4.40
2017-03-31 3.84
2016-12-31 3.23
2016-09-30 1.55
2016-06-30 -0.14
2016-03-31 -0.36

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Tri-Continental will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tri-Continental's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tri-Continental has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TY Past Performance

  How has Tri-Continental performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tri-Continental's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tri-Continental does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Tri-Continental's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Tri-Continental's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Tri-Continental's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tri-Continental Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 61.29 -75.33 8.00
2018-09-30 60.71 61.71 7.95
2018-06-30 60.13 198.76 7.90
2018-03-31 59.71 238.92 7.78
2017-12-31 59.29 279.08 7.67
2017-09-30 58.31 262.38 7.54
2017-06-30 57.34 245.69 7.41
2017-03-31 58.15 214.62 7.22
2016-12-31 58.97 183.54 7.02
2016-09-30 58.97 87.77 7.04
2016-06-30 58.96 -8.00 7.05
2016-03-31 57.57 -21.05 7.25
2015-12-31 56.19 -34.11 7.45
2015-09-30 54.89 19.78 7.47
2015-06-30 53.59 73.67 7.50
2015-03-31 52.77 108.91 7.33
2014-12-31 51.95 144.16 7.17
2014-09-30 52.04 211.42 7.07
2014-06-30 52.14 278.68 6.98
2014-03-31 50.89 295.10 6.80
2013-12-31 49.64 311.52 6.62
2013-09-30 49.08 256.11 6.22
2013-06-30 48.51 200.70 5.82
2013-03-31 47.37 181.78 5.96
2012-12-31 46.23 162.85 6.10
2012-09-30 41.51 116.53 6.32
2012-06-30 36.79 70.22 6.54
2012-03-31 32.24 68.38 6.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Tri-Continental has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Tri-Continental has efficiently used its assets last year compared to the US Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Tri-Continental improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Tri-Continental's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tri-Continental has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TY Health

 How is Tri-Continental's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tri-Continental's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tri-Continental is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tri-Continental's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tri-Continental's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Tri-Continental has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tri-Continental Company Filings, last reported 2 months ago.

NYSE:TY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,469.32 0.00
2018-09-30 1,469.32 0.00
2018-06-30 1,656.55 0.00
2018-03-31 1,656.55 0.00
2017-12-31 1,675.66 0.00
2017-09-30 1,675.66 0.00
2017-06-30 1,578.57 0.00 0.01
2017-03-31 1,578.57 0.00 0.01
2016-12-31 1,508.95 0.00
2016-09-30 1,508.95 0.00
2016-06-30 1,433.21 0.00
2016-03-31 1,433.21 0.00
2015-12-31 1,420.82 0.00
2015-09-30 1,420.82 0.00
2015-06-30 1,533.88 0.00
2015-03-31 1,533.88 0.00
2014-12-31 1,549.39 0.00
2014-09-30 1,549.39 0.00
2014-06-30 1,540.55 0.00
2014-03-31 1,540.55 0.00
2013-12-31 1,473.84 0.00
2013-09-30 1,473.84 0.00
2013-06-30 1,325.47 0.00
2013-03-31 1,325.47 0.00
2012-12-31 1,221.39 0.00
2012-09-30 1,221.39 0.00
2012-06-30 1,185.65 107.73 0.00
2012-03-31 1,185.65 107.73 0.00
  • Tri-Continental has no debt.
  • Tri-Continental had no debt 5 years ago.
  • Tri-Continental has no debt, it does not need to be covered by operating cash flow.
  • Tri-Continental has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Tri-Continental's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tri-Continental has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TY Dividends

 What is Tri-Continental's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.66%
Current annual income from Tri-Continental dividends.
If you bought $2,000 of Tri-Continental shares you are expected to receive $73 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tri-Continental's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Tri-Continental's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:TY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:TY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-23 0.963 3.820
2018-03-07 1.618 5.999
2017-11-24 1.167 4.316
2017-09-08 1.046 4.067
2017-03-02 0.909 3.781
2016-03-03 0.810 3.836
2015-03-06 0.751 3.667
2014-03-06 0.676 3.238
2013-03-08 0.760 4.075
2013-03-05 0.760 4.357
2012-09-06 0.620 3.785
2012-06-07 0.600 3.846
2012-03-08 0.420 2.704
2012-03-01 0.275 1.742
2011-12-02 0.300 2.025
2011-09-02 0.280 2.055
2011-06-03 0.260 1.828
2011-03-04 0.260 1.773
2010-12-03 0.420 2.996
2010-09-03 0.200 1.577
2010-06-04 0.200 1.744
2010-03-12 0.176 1.437
2010-03-05 0.193 1.610
2009-12-07 0.176 1.541
2009-09-04 0.176 1.585
2009-05-21 0.196 2.014
2009-03-20 0.224 2.528

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Tri-Continental's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tri-Continental's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tri-Continental afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tri-Continental has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TY Management

 What is the CEO of Tri-Continental's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Tri-Continental has no CEO, or we have no data on them.
Management Team Tenure

Average tenure and age of the Tri-Continental management team in years:

8
Average Tenure
52
Average Age
  • The average tenure for the Tri-Continental management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

J. Connaughton

TITLE
President
AGE
54
TENURE
8.8 yrs

Michael Clarke

TITLE
Chief Financial Officer and Treasurer
AGE
49
TENURE
8.2 yrs

Joseph DiMaria

TITLE
Chief Accounting Officer and Vice President
AGE
50
TENURE
7.9 yrs

Thomas McGuire

TITLE
Chief Compliance Officer
AGE
46
TENURE
7 yrs

Ted Truscott

TITLE
Senior Vice President and Director
AGE
58
TENURE
10.3 yrs

Colin Moore

TITLE
Executive VP
AGE
60
TENURE
8.8 yrs

Christopher Petersen

TITLE
Vice President and Secretary
AGE
48
TENURE
7.9 yrs

Paul Goucher

TITLE
Vice President and Assistant Secretary
AGE
50
TENURE
7.9 yrs

Neysa Alecu

TITLE
Money Laundering Prevention Officer and Identity Theft Prevention Officer
AGE
54
TENURE
10.3 yrs

Paul Pearson

TITLE
Vice President and Assistant Treasurer
AGE
62
TENURE
7.9 yrs
Board of Directors Tenure

Average tenure and age of the Tri-Continental board of directors in years:

10.3
Average Tenure
70.5
Average Age
  • The average tenure for the Tri-Continental board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Edward Boudreau

TITLE
Chairman of the Board
AGE
74

Ted Truscott

TITLE
Senior Vice President and Director
AGE
58
TENURE
10.3 yrs

Roy Richie

TITLE
Independent Director
COMPENSATION
$7K
AGE
77
TENURE
19.2 yrs

Kathleen Blatz

TITLE
Director
COMPENSATION
$7K
AGE
64
TENURE
10.3 yrs

Patricia Flynn

TITLE
Director
COMPENSATION
$7K
AGE
67
TENURE
10.3 yrs

Cathy Paglia

TITLE
Director
COMPENSATION
$7K
AGE
66
TENURE
10.3 yrs

Alison Taunton-Rigby

TITLE
Director
COMPENSATION
$7K
AGE
74
TENURE
10.3 yrs

Pamela Carlton

TITLE
Director
COMPENSATION
$7K
AGE
64
TENURE
10.3 yrs

Bill Carmichael

TITLE
Director
COMPENSATION
$6K
AGE
75
TENURE
5.2 yrs

Bill Hawkins

TITLE
Director
COMPENSATION
$6K
AGE
76
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Tri-Continental insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. Jan 19 Buy Yan Jin Individual 31. Dec 18 31. Dec 18 5,000 $23.46 $116,991
13. Jun 18 Sell Peter Albanese Individual 12. Jun 18 12. Jun 18 -5,500 $27.53 $-151,272
X
Management checks
We assess Tri-Continental's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tri-Continental has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TY News

Simply Wall St News

TY Company Info

Description

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies. The fund benchmarks the performance of its portfolio against S&P 500 Index. Tri-Continental Corporation was formed in January 1929 and is domiciled in the United States.

Details
Name: Tri-Continental Corporation
TY
Exchange: NYSE
Founded: 1929
$1,417,998,655
53,895,806
Website: http://www.columbiathreadneedleus.com/investment-products/Variable-Portfolio/Tri-Continental-Corporation/-/details?cusip=895436103
Address: Tri-Continental Corporation
225 Franklin Street,
Boston,
Massachusetts, 02110,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TY Common Stock New York Stock Exchange US USD 02. Jan 1973
Number of employees
Current staff
Staff numbers
0
Tri-Continental employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 23:49
End of day share price update: 2019/03/19 00:00
Last earnings filing: 2019/03/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.