Central Securities Corporation Releases Annual Report to Stockholders for the Year Ended December 31, 2024

Rhea-AI Summary

Central Securities (NYSE American: CET) has released its Annual Report to Stockholders for the year ended December 31, 2024. The report reveals significant growth in key financial metrics compared to the previous year. Net assets per common share increased to $54.26 from $46.49, representing a 16.7% increase. Total net assets grew to $1.57 billion from $1.32 billion, while the number of shares outstanding increased to 28,935,676 from 28,387,828.

Positive

• Net assets per share increased 16.7% to $54.26
• Total net assets grew by $250 million to $1.57 billion
• Share count increased by 547,848 shares

Negative

• None.

Insights

Financial Analyst

The 2024 annual report reveals robust performance for Central Securities , with net asset value (NAV) per share climbing 16.7% to $54.26. This growth significantly outpaced the fund's share count expansion of 1.9%, indicating strong underlying portfolio appreciation rather than mere dilution effects.

The total net asset growth of approximately $250 million to $1.57 billion reflects both market appreciation and possibly reinvested distributions. For closed-end funds, NAV growth of this magnitude typically suggests successful execution of the investment strategy and effective use of the fund's structural advantages, including the ability to maintain a stable portfolio without forced selling to meet redemptions.

A important metric for investors is the relationship between the fund's market price ($47.60) and its reported NAV ($54.26), indicating the fund trades at a 12.3% discount to NAV. This discount presents a potential opportunity for value investors, though it's essential to understand that closed-end fund discounts can persist for extended periods due to market inefficiencies and structural factors.

The modest increase in shares outstanding suggests new share issuance or dividend reinvestment impact, maintaining the fund's relatively concentrated structure and investment flexibility. This controlled growth in share count helps preserve per-share value for existing stockholders while maintaining the fund's ability to invest in its target market segment effectively.

NEW YORK--(BUSINESS WIRE)-- Central Securities Corporation (NYSE American: CET), a closed-end investment company, today released its Annual Report to Stockholders for the year ended December 31, 2024.

Figures as of December 31, 2024, compared with those of one year ago, are as follows:

	December 31,	December 31,
	2024	2023
Net assets per common share	$54.26	$46.49
Net assets	$1,569,940,654	$1,319,864,836
Shares outstanding	28,935,676	28,387,828

Additional details are available at www.centralsecurities.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250212750250/en/

Central Securities Corporation

Marlene A. Krumholz, Secretary

212-698-2020

Source: Central Securities Corporation

FAQ

What was Central Securities 's (CET) net asset value per share in 2024?

Central Securities 's net asset value per share was $54.26 as of December 31, 2024.

How much did CET's total net assets grow in 2024?

CET's total net assets grew by approximately $250 million, from $1.32 billion to $1.57 billion in 2024.

What was the percentage increase in CET's net asset value per share for 2024?

CET's net asset value per share increased by 16.7%, from $46.49 to $54.26 in 2024.

How many shares of CET were outstanding at the end of 2024?

CET had 28,935,676 shares outstanding as of December 31, 2024.