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Eugene S. Stark, Vice President of Administration and Chief Compliance Officer at General American Investors Co. Inc. (NYSE:GAM), a company with a market capitalization of $1.18 billion and an impressive InvestingPro Financial Health score of "GREAT," recently acquired 5,000 shares of the company’s 5.95% Preferred Stock. The transaction, dated March 7, 2025, was executed at a price of $24.70 per share, totaling approximately $123,500. Following this acquisition, Stark now holds a total of 19,500 shares of this preferred stock directly. The company has maintained dividend payments for 54 consecutive years, with the current stock offering an attractive dividend yield of 8.88%.
In addition to his preferred stock holdings, Stark also maintains ownership of common stock in the company. After recent transactions, he directly owns 9,775 shares of common stock and indirectly owns 89,637 shares through the company’s Employees’ Thrift Plan Trust, where he disclaims any beneficial interest. For more comprehensive insider trading analysis and additional financial metrics, consider subscribing to InvestingPro, which offers 6 more exclusive tips for GAM.
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 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. Additionally, the company’s Board of Directors announced 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, with total net assets of approximately $1.4 billion, remains a significant entity in the investment sector. The aggregate liquidation value of its preferred stock stands at $190 million. These developments reflect the company’s ongoing commitment to providing returns to its investors.
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