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

Central Securities Co. (NYSE:CET) declared a semi-annual dividend on Tuesday, November 5th, Wall Street Journal reports. Shareholders of record on Friday, November 15th will be given a dividend of 2.05 per share on Friday, December 20th. This represents a yield of 1.3%. The ex-dividend date is Friday, November 15th. This is a boost from Central Securities’s previous semi-annual dividend of $0.20.

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

Central Securities Stock Up 2.7 %

Shares of CET traded up $1.25 during mid-day trading on Wednesday, hitting $48.38. 16,497 shares of the company traded hands, compared to its average volume of 31,107. The stock has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $44.06. Central Securities has a 1 year low of $34.77 and a 1 year high of $48.46.

Insider Activity

In other news, CEO John C. Hill purchased 600 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $46.71 per share, for a total transaction of $28,026.00. Following the purchase, the chief executive officer now directly owns 69,296 shares in the company, valued at $3,236,816.16. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Central Securities news, CEO John C. Hill acquired 600 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $46.71 per share, with a total value of $28,026.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew J. O’neill acquired 1,080 shares of Central Securities stock in a transaction dated 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 in the company, valued at $3,913,778.44. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.

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.