Central Securities Corporation Releases Report to Stockholders

Rhea-AI Summary

Central Securities (NYSE American: CET) has released its Report to Stockholders for the nine months ended September 30, 2024. The company reported significant growth in its financial metrics year-over-year. Net assets per common share increased to $56.17 from $43.63, while total net assets grew to $1,594,454,696 from $1,218,907,463. The number of shares outstanding also increased to 28,387,828 from 27,939,274.

Positive

• Net assets per share increased 28.7% YoY to $56.17
• Total net assets grew 30.8% YoY to $1.59 billion

Negative

• Share count dilution with outstanding shares increasing by 448,554 shares

Insights

Financial Analyst

This financial report reveals significant growth in Central Securities 's performance. Net assets per share increased by 28.7% to $56.17 from $43.63 year-over-year. The total net assets saw a substantial rise of 30.8% to $1.59 billion from $1.22 billion. The company also expanded its share count by approximately 1.6%.

This impressive growth in net assets suggests strong investment performance and effective portfolio management during a period marked by market volatility. The increase in shares outstanding indicates investor confidence and successful capital raising activities. For a closed-end fund, these metrics demonstrate robust operational execution and effective market positioning.

NEW YORK--(BUSINESS WIRE)-- Central Securities Corporation (NYSE American: CET), a closed-end investment company, today released its Report to Stockholders for the nine months ended September 30, 2024.

Figures as of September 30, 2024 compared with those of one year ago, are as follows:

		September 30,		September 30,
		2024		2023
Net assets per common share		$56.17		$43.63
Net assets		$1,594,454,696		$1,218,907,463
Shares outstanding		28,387,828		27,939,274

Additional details are available at www.centralsecurities.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241108192224/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 as of September 30, 2024?

Central Securities 's net asset value per share was $56.17 as of September 30, 2024.

How much did Central Securities 's (CET) total net assets grow in the nine months ended September 30, 2024?

Central Securities 's total net assets grew to $1,594,454,696 as of September 30, 2024, up from $1,218,907,463 in the previous year.

What was the year-over-year increase in Central Securities 's (CET) net asset value per share?

Central Securities 's net asset value per share increased from $43.63 to $56.17, representing a 28.7% increase year-over-year.