Central Securities Corporation Announces Reinvestment Price of Shares for Distribution Payable December 21, 2023

Rhea-AI Summary

Central Securities Corporation (CET) announced the issuance of Common Stock at $36.80 per share for a $1.65 per share distribution payable on December 21, 2023. The distribution is taxable, with $0.45 as ordinary income and $1.20 as long-term capital gain. Shareholders of record on November 13, 2023, are eligible for the distribution.

NEW YORK--(BUSINESS WIRE)-- Central Securities Corporation (NYSE American: CET) announced today that the price at which Common Stock will be issued in payment of the $1.65 per share distribution payable on December 21, 2023 is $36.80 per share. This price is the arithmetic average of the daily volume weighted average price (“VWAP”) of the Corporation’s Common Stock for each of the last three trading days ending on and including December 5, 2023, rounded to two decimal places. The distribution was previously announced on November 3, 2023 and is payable to shareholders of record on November 13, 2023.

Of the $1.65 per share to be paid, $0.45 is expected to be taxable as ordinary income and $1.20 is expected to be taxable as long-term capital gain. Tax treatment will be the same whether the distribution is received in stock or cash. The final tax breakdown of all amounts paid during 2023 will be available after year end.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205141749/en/

Central Securities Corporation

Marlene A. Krumholz, Secretary

(212) 698-2020

Source: Central Securities Corporation

FAQ

What is the ticker symbol for Central Securities Corporation?

The ticker symbol for Central Securities Corporation is CET.

When is the $1.65 per share distribution payable?

The $1.65 per share distribution is payable on December 21, 2023.

What is the price at which Common Stock will be issued for the distribution?

Common Stock will be issued at $36.80 per share for the distribution.

How much of the distribution is expected to be taxable as ordinary income?

$0.45 per share is expected to be taxable as ordinary income.

How much of the distribution is expected to be taxable as long-term capital gain?

$1.20 per share is expected to be taxable as long-term capital gain.

Who is the Secretary of Central Securities Corporation?

Marlene A. Krumholz is the Secretary of Central Securities Corporation.