Message #2 From:
NewsBot Date: November 3, 2005 07:08:00 AM
CET News Central Securities Corporation Declares Year-End Distribution
NEW YORK--(BUSINESS WIRE)--Nov. 3, 2005--Central Securities Corporation (AMEX:CET), a closed-end investment company, today declared the following dividend on its common stock:
Optional Distribution
One share of common stock for every 12.5 shares held,
value of shares issued: $22.50 per share
OR
$1.80 in cash per common share held.
The dividend is payable December 27, 2005 to shareholders of record November 14, 2005. The cut-off date for election of cash in the Optional Distribution is December 1, 2005. Cash will be paid in lieu of fractions based on the value of $22.50 per share of common stock issued.
It is estimated that of the $1.80 per share to be paid, $0.25 will be taxable as ordinary income and $1.55 will 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 2005 will be available after year end.
