Central Securities Corporation Declares Year-End Distribution.NEW YORK -- Central Securities Corporation (NYSE NYSE See: New York Stock Exchange Alternext: CET CET abbr. Central European Time CET Central European Time CET n abbr (= Central European Time) → hora de Europa central CET abbr ), a closed-end investment company closed-end investment company: see mutual fund. , today declared the following dividend on its common stock: [TABLE OMITTED] The dividend is payable December 23, 2008 to shareholders of record November 14, 2008. The cut-off date for election of cash in the Optional Distribution is December 2, 2008. Cash will be paid in lieu of fractions based on the value of $16.96 per share of common stock issued. It is estimated that of the $2.12 per share to be paid, $0.07 will be taxable as ordinary income and $2.05 will be taxable as long-term capital gain Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. . Tax treatment will be the same whether the distribution is received in stock or cash. The final tax breakdown of all amounts paid during 2008 will be available after year end. |
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