Central Securities Corporation Releases Annual Report to Stockholders for the Year Ended December 31, 2022

Rhea-AI Summary

Central Securities Corporation (NYSE American: CET) released its Annual Report for the year ending December 31, 2022. The report indicates a decline in net assets to $1,132,835,676 from $1,332,590,581 in 2021. Additionally, the net assets per common share dropped to $40.48 from $48.87, highlighting a significant decrease. Shares outstanding increased to 27,988,252, compared to 27,266,384 the previous year, potentially indicating shareholder dilution. This performance raises questions about the company's future outlook amidst these financial declines.

Positive

• None.

Negative

• Net assets decreased from $1,332,590,581 to $1,132,835,676.
• Net assets per common share fell from $48.87 to $40.48.
• Increased shares outstanding from 27,266,384 to 27,988,252, potentially causing shareholder dilution.

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, 2022.

Figures as of December 31, 2022, compared with those of one year ago, are as follows:

			December 31,			December 31,
			2022			2021
Net assets per common share			$40.48			$48.87
Net assets			$1,132,835,676			$1,332,590,581
Shares outstanding			27,988,252			27,266,384

Additional details are available at www.centralsecurities.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005722/en/

Central Securities Corporation

Marlene A. Krumholz, Secretary

212-698-2020

Source: Central Securities Corporation

FAQ

What are the key financial figures for CET as of December 31, 2022?

As of December 31, 2022, CET reported net assets of $1,132,835,676 and net assets per common share of $40.48.

How did CET's net assets change compared to 2021?

CET's net assets decreased from $1,332,590,581 in 2021 to $1,132,835,676 in 2022.

What was the change in shares outstanding for CET in 2022?

CET's shares outstanding increased from 27,266,384 in 2021 to 27,988,252 in 2022.