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Arthur G. Altschul Jr., a director at General American Investors Co. Inc. (NYSE:GAM), a $1.13 billion market cap company with a strong InvestingPro Financial Health score of "GREAT," recently sold 2,000 shares of the company's Series B 5.95% Preferred Stock. The transaction, completed on April 8, 2025, was valued at approximately $49,231, with shares sold at a price of $24.6158 each. Following this sale, Altschul holds no remaining shares of the preferred stock. His holdings now include 11,487 shares of common stock as a trustee and beneficiary of various family trusts, and an additional 4,908 shares as a beneficiary of another trust. The company maintains an impressive 54-year track record of consistent dividend payments, currently offering a 9.38% yield. InvestingPro subscribers can access additional insights on insider trading patterns and 5 more exclusive ProTips.
In other recent news, General American Investors Company, Inc. has announced a spill-over capital gain distribution of $0.25 per share for its common stock. This distribution results from net long-term profits on securities sold between November 1, 2024, and December 31, 2024, and is expected to be taxable as long-term capital gain income. Stockholders of record as of February 24, 2025, will receive the cash payment on March 7, 2025, which will be included in their federal income tax returns for the year 2025. Additionally, the company's Board of Directors declared a dividend and distribution of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This cash 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 holds total net assets of approximately $1.4 billion across 23.5 million shares of common stock, with the aggregate liquidation value of the preferred stock reported at $190 million.
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