Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Eugene S. Stark, Vice President of Administration, Chief Compliance Officer, and Principal Financial (NASDAQ:PFG) Officer at General American Investors Co. Inc. (NYSE:GAM), recently acquired 2,500 shares of the company’s 5.95% Preferred Stock. The company, currently valued at $1.19 billion, has maintained an impressive track record of dividend payments for 54 consecutive years, according to InvestingPro data. The shares were purchased at a price of $25 each, amounting to a total investment of $62,500. Following this transaction, Stark now holds 14,500 shares of the preferred stock directly. Additionally, Stark’s holdings include shares in a joint account with his spouse, as well as shares held through an IRA account and a Thrift Plan Trust. The company demonstrates strong financial health with a P/E ratio of 5.07 and currently offers an attractive dividend yield of 8.84%.
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 is derived 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 on record as of February 24, 2025, will receive this cash payment on March 7, 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, through March 23, 2025. The taxable portions of the preferred stock distribution will be communicated to shareholders in early 2026. General American Investors maintains total net assets of approximately $1.4 billion across 23.5 million shares of common stock. The aggregate liquidation value of the preferred stock stands at $190 million. These developments are based on a press release from General American Investors Company, Inc.
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