The Past Ten Years of Investing

As of March 31, 1999, we began with net assets of $353.0 million, after repurchasing two-thirds of our stock during 1976 and 1977. Over the next 10 years, $58.3 million was disbursed or accrued for:

$33.0 million
Cash dividends to shareholders
$25.3 million
Federal Tax Payments

As of March 31, 2009, net assets had grown to $415.2 million.

Annual Graph View Full Size

Patient Capital for Exceptional Businesses