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Jeffrey W. Priest, President and CEO of General American Investors Co Inc (NYSE:GAM), recently acquired 1,735 shares of 5.95% Preferred Stock, according to a recent SEC filing. The transaction, dated April 1, 2025, was executed at a price of $24.75 per share, amounting to a total purchase value of $42,941. The company, currently valued at $1.19 billion, maintains an impressive track record with 54 consecutive years of dividend payments and an attractive 8.9% dividend yield, according to InvestingPro data.
Following this acquisition, Priest holds a total of 17,127 shares of the preferred stock directly. The filing also notes indirect ownership of shares by Priest through various entities, though he disclaims any beneficial interest in those shares. This transaction further solidifies his investment in the company, reflecting confidence in its preferred stock. InvestingPro analysis shows GAM maintains strong financial health with a "GREAT" overall score of 3.1/5, featuring robust liquidity with current assets exceeding short-term obligations. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, General American Investors Company, Inc. has declared a spill-over capital gain distribution of $0.25 per share for its common stock. This distribution is derived from net long-term profits on securities sold between November 1, 2024, and December 31, 2024, and will be taxable as long-term capital gain income. Stockholders of record as of February 24, 2025, are set to receive the cash payment on March 7, 2025, impacting their federal income tax returns for the year 2025. Additionally, the company’s Board of Directors has announced a dividend and distribution of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This payment is scheduled for March 24, 2025, for shareholders on record as of March 7, 2025, covering the accrual period from December 24, 2024, through March 23, 2025. The taxable portions of this distribution will be communicated to preferred shareholders in early 2026. General American Investors, with total net assets of approximately $1.4 billion, continues to maintain its influence in the investment sector. The aggregate liquidation value of the preferred stock stands at $190 million.
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