Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Anang K. Majmudar, Senior Vice-President of General American Investors Co Inc (NYSE:GAM), has made a significant acquisition of 5.95% Preferred Stock. On March 7, Majmudar purchased 900 shares at a price of $24.69 each, amounting to a total transaction value of $22,221. The company, currently trading at $50.50, boasts an impressive dividend yield of 8.88% and has maintained dividend payments for 54 consecutive years, according to InvestingPro data. Following this purchase, Majmudar holds 6,300 shares in joint tenancy with his spouse. Additionally, he maintains ownership of 4,703 shares of common stock directly and 28,787 shares indirectly through the issuer’s Employees’ Thrift Plan Trust. The company demonstrates strong financial health with an "GREAT" rating from InvestingPro, supported by a favorable P/E ratio of 5.05 and robust liquidity metrics. For deeper insights into GAM’s valuation and growth prospects, including additional ProTips, explore InvestingPro.
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 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 has announced 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 reports total net assets of approximately $1.4 billion across 23.5 million shares of common stock, with an aggregate liquidation value of $190 million for the preferred stock. These updates reflect the company’s ongoing financial activities and shareholder distributions.
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