Company: SWZ
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001839882-25-014961
Chunk: 16

Company: Total Return Securities Fund
Filing Date: 2025-03-11
Form: N-CSR
Chunk 16
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                   | 0.10246295 |     |              | — |     |              | — |     |                    | 0.12900 |
| 12/17/24    |     | 12/31/24     |     |                 | 0.02999304 |     |                   | 0.11580696 |     |              | — |     |              | — |     |                    | 0.14580 |
|             |     |              |     | $               | 0.10960421 |     | $                 | 0.42319579 |     | $            | — |     | $            | — |     | $                  | 0.53280 |

There were no reclassifications made between total distributable earnings and paid-in capital. 33 THE SWISS HELVETIA FUND, INC. Notes to Financial Statements (continued) Note 6—Stock Repurchase Program Pursuant to authorization by the Board, the Fund began open market purchases of its common stock on the New York Stock Exchange in 1999. The Board has authorized a stock repurchase program permitting such purchases by the Fund in each subsequent year, except for 2014. The principal purpose of the stock repurchase program has been to enhance stockholder value by increasing the Fund’s NAV per share. On December 13, 2019, the Fund announced the Board’s approval of the Fund’s stock repurchase plan for 2020 of up to 250,000 shares of common stock. During the year ended December 31, 2020, the Fund repurchased 54,857 shares of its capital stock in the open market at a cost of $449,102. The weighted average discount of these purchases comparing the average purchase price to net asset value at the close of the New York Stock Exchange was 16.33%. On December 12, 2020, the Board approved the Fund’s stock repurchase plan for 2021 of up to 250,000 shares of common stock. The Fund did not repurchase any common stock pursuant to the plan during the year ended December 31, 2021. On December 10, 2021, the Board approved the Fund’s stock repurchase program for 2022 of up to 250,000 shares of common stock. During the year ended December 31, 2022, the Fund repurchased 16,504 shares of its capital stock in the open market at a cost