Declares long-term capital gain distribution
THE SWISS HELVETIA FUND, INC. DECLARES LONG TERM CAPITAL GAIN DISTRIBUTION
The Board of Directors of The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a closed-end investment company, announced today the declaration of a long-term capital gain distribution in the amount of $1.276 per share. The distribution will be paid on January 31, 2006 in the form of stock, with a cash option, to stockholders of record on December 19, 2005. The shares will trade "ex-dividend" on December 15, 2005.
The Board of Directors also announced a continuation of the Fund's stock repurchase program to purchase up to 1,000,000 shares of its Common Stock during 2006 in open-market transactions to be effected on the New York Stock Exchange. The principal purpose of the stock repurchase program is to enhance stockholder value by increasing the Fund's net asset value per share without creating a meaningful adverse effect upon the Fund's expense ratio.
The Fund is a non-diversified, closed-end investment company whose objective is to seek long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. The Fund is managed by Hottinger Capital Co. and is listed on the New York Stock Exchange under the symbol SWZ.
For further information regarding the Fund, please contact Rudolf Millisits, Executive Vice President of Hottinger Capital Corp. at 1-888-SWISS-00 or (212) 332-2760, 1270 Avenue of the Americas, Suite 400, New York, New York, 10020.