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Arthur G. Altschul Jr., a director at General American Investors Co. Inc. (NYSE:GAM), a $1.19 billion market cap investment company with an impressive 8.9% dividend yield and attractive P/E ratio of 5.1, sold 2,000 shares of Series B 5.95% Preferred Stock on April 1, according to a recent SEC filing. The shares were sold at an average price of $24.8278, amounting to a total transaction value of $49,655. Following this sale, Altschul holds 24,400 shares of the preferred stock indirectly, as a trustee and beneficiary of various family trusts. Additionally, he holds 11,487 and 4,908 shares of common stock in two separate trust arrangements. The company has demonstrated strong performance with a 20.2% return over the past year and maintains a "GREAT" financial health score according to InvestingPro analysis.
In other recent news, General American Investors Company, Inc. 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 will be taxable as long-term capital gain income. Shareholders of record as of February 24, 2025, are set to receive the cash payment on March 7, 2025, which will be included in their federal income tax returns for 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 payment is scheduled for March 24, 2025, for shareholders on record as of March 7, 2025, covering the accrual period from December 24, 2024, to March 23, 2025. The taxable portions of this distribution will be communicated to preferred shareholders in early 2026. General American Investors continues to maintain total net assets of approximately $1.4 billion across 23.5 million shares of common stock. The aggregate liquidation value of the preferred stock is reported at $190 million. These announcements are based on a press release from General American Investors Company, Inc.
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