Eugene S Stark, who serves as Vice President Administration/Chief Compliance Officer/Principal Financial Officer at General American Investors Co Inc (NYSE: GAM), has increased his direct holding in the company’s 5.95% preferred stock.
The transaction consisted of an acquisition of 3,000 shares of the 5.95% Preferred Stock at a per-share price of $24.95, bringing the aggregate cost of the purchase to $74,850. As a result of this buy, Stark now directly holds 27,000 shares of the stated preferred issue.
The purchase comes while General American Investors is characterized by a long record of dividend payments. InvestingPro data cited by the company notes that the firm has distributed dividends for 54 consecutive years. The current dividend yield on the preferred shares is reported at 10.86%.
InvestingPro also indicates that subscribers gain access to additional analytical material on the company; specifically, InvestingPro subscribers are able to view more than eight extra tips related to GAM’s financial condition and performance metrics.
Details of the transaction
- Shares purchased: 3,000 of 5.95% Preferred Stock
- Price per share: $24.95
- Total transaction value: $74,850
- Post-transaction direct holding by Eugene S Stark: 27,000 shares
Dividend context
The company’s preferred stock carries a stated dividend rate of 5.95%. The published InvestingPro figures referenced in company materials also highlight a 54-year streak of dividend payments and a current yield of 10.86% on the preferred stock.
Summary and context for readers
The reported insider purchase increases an executive’s direct ownership in a high-yielding preferred issue while the company is presented as having a lengthy history of paying dividends. The article does not provide additional commentary from the company or the insider about the motivation behind the purchase, nor does it include further corporate disclosures beyond the share count and dividend figures cited above.