Central Securities Co. (NYSE:CET) Increases Dividend to $2.05 Per Share

Central Securities Co. (NYSE:CET) announced a semi-annual dividend on Wednesday, November 6th, Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given a dividend of 2.05 per share on Friday, December 20th. This represents a dividend yield of 1.3%. The ex-dividend date is Friday, November 15th. This is an increase from Central Securities’s previous semi-annual dividend of $0.20.

Central Securities has raised its dividend by an average of 2.9% per year over the last three years.

Central Securities Stock Performance

CET stock traded up $1.31 during midday trading on Wednesday, hitting $48.44. The company had a trading volume of 16,497 shares, compared to its average volume of 31,107. Central Securities has a 52 week low of $34.77 and a 52 week high of $48.46. The stock’s 50 day moving average price is $45.76 and its 200 day moving average price is $44.06.

Insider Activity at Central Securities

In other news, CEO John C. Hill purchased 600 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $46.71 per share, with a total value of $28,026.00. Following the acquisition, the chief executive officer now directly owns 69,296 shares in the company, valued at approximately $3,236,816.16. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Central Securities news, VP Andrew J. O’neill purchased 1,080 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $46.09 per share, with a total value of $49,777.20. Following the completion of the purchase, the vice president now directly owns 84,916 shares of the company’s stock, valued at $3,913,778.44. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John C. Hill acquired 600 shares of Central Securities stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $46.71 per share, for a total transaction of $28,026.00. Following the completion of the transaction, the chief executive officer now owns 69,296 shares in the company, valued at approximately $3,236,816.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 10.30% of the stock is currently owned by company insiders.

Central Securities Company Profile

Central Securities Corp. is a publicly owned investment manager. The firm invests in the public equity markets of the United States. It also invests on bonds, convertible bonds, preferred stocks, convertible preferred stocks, warrants, options real estate, or short-term obligations of governments, banks and corporations.