Arthur G. Altschul Jr., a director at General American Investors Co. Inc. (NYSE:GAM), has sold a significant portion of his holdings in the company. On May 8, Altschul disposed of 17,400 shares of Series B 5.95% Preferred Stock at an average price of $24.8224 per share. The transaction amounted to a total of $431,909. Following this sale, Altschul holds 5,000 shares of the Series B Preferred Stock. The company, currently valued at $1.2 billion, maintains a strong financial position with a "GREAT" health score according to InvestingPro analysis, boasting an impressive 8.7% dividend yield and a 54-year track record of consistent dividend payments.
Altschul’s remaining holdings also include 11,487 shares and 4,908 shares of Common Stock, held indirectly as a trustee and beneficiary of various trusts. With a P/E ratio of 5.18 and strong liquidity metrics, InvestingPro subscribers can access detailed insider trading patterns and 6 additional key investment tips for GAM.
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 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 on record as of February 24, 2025, will receive their cash payment on March 7, 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, 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 were announced through a press release from the company.
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