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NEW YORK—The Trust FBO Altschul Arthur G Jr UW Altschul Frank reported a recent sale of General American Investors Co Inc (NYSE:GAM) Series B 5.95% Preferred Stock. The transaction, disclosed in a filing with the Securities and Exchange Commission, involved the sale of 2,000 shares at a price of $24.6158 per share, totaling $49,231. GAM, currently trading at $48.19, has demonstrated strong financial health with a remarkable 54-year track record of consistent dividend payments and an attractive current dividend yield of 9.38%. InvestingPro analysis reveals the company maintains robust liquidity with a current ratio of 1.5.
Following this transaction, the trust no longer holds any shares of the Series B 5.95% Preferred Stock. The sale was carried out under the oversight of Arthur G. Altschul, Jr., acting as trustee. The filing noted that an initial attempt to file this transaction on April 9, 2025, was unsuccessful due to dissemination issues with the SEC's EDGAR system. With a P/E ratio of 4.83 and strong financial metrics, investors seeking detailed analysis can access 4 additional exclusive insights through InvestingPro.
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 of record as of February 24, 2025, will receive their cash payments 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 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 this distribution will be communicated to preferred shareholders in early 2026. General American Investors has 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 at $190 million. This information was released by General American Investors Company, Inc.
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