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The Swiss Helvetia Fund, Inc. (NYSE:SWZ), a non-diversified registered closed-end investment company, announced today that its Board of Directors has approved a stock repurchase program for 2023 pursuant to which the Fund may purchase up to 250,000 shares of its common stock. The principal purpose of the stock repurchase program is to enhance stockholder value by increasing the Fund's net asset value per share ("NAV") through stock repurchases at below NAV.
Any repurchase by the Fund of its common stock is subject to various factors, including the limitations imposed by the federal securities laws governing the repurchase of an issuer's stock by the issuer, the ability of the Fund's investment adviser to raise cash to repurchase shares of the Fund's common stock in a tax-efficient manner and general market conditions. There can be no assurance that the Fund will repurchase any shares or that the program will enhance stockholder value. The Fund's Board of Directors may amend this program, solely in its discretion, at any time during the duration of the program. Any such amendment will be publicly disclosed.
Posted In: SWZ
