NEW YORK, March 4, 2002 (PRIMEZONE) -- A quarterly dividend distribution of $.28 per share for the quarter ending March 31, 2002 was declared today by Tuxis Corporation (AMEX:TUX), payable March 29, 2002 to shareholders of record March 15, 2002.
The $.28 per share quarterly dividend distribution reflects the Company's managed 10% distribution policy. The policy is intended to provide shareholders with a relatively stable cash flow and reduce or eliminate any market price discount to the Company's net asset value per share. Quarterly distributions of approximately 10% of the Company's net asset value per share on an annual basis are paid primarily from ordinary income and any net capital gains, with the balance representing return of capital. The amount of the distribution may vary depending on the net asset value per share at the time of declaration.