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

Central Securities Co. (NYSE:CET) announced a semi-annual dividend on Tuesday, November 5th,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 increased its dividend payment by an average of 2.9% annually over the last three years.

Central Securities Stock Performance

CET traded down $0.02 during trading hours on Thursday, hitting $49.08. 15,586 shares of the stock were exchanged, compared to its average volume of 30,829. The stock has a 50-day simple moving average of $46.29 and a 200-day simple moving average of $44.38. Central Securities has a 12 month low of $35.58 and a 12 month high of $49.51.

Insider Transactions at Central Securities

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