General American Investors Company Announces Actions Taken by the Board of Directors

Rhea-AI Summary

The Board of Directors of General American Investors (NYSE: GAM) has declared a cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This distribution, covering the period from June 24, 2022 to September 25, 2022, is payable on September 26, 2022, to shareholders recorded by September 7, 2022. General American Investors aims for long-term capital appreciation with total net assets around $1.0 billion and a liquidation value of its preferred stock at $190 million.

Positive

• Quarterly dividend of $0.371875 per share highlights continued financial support for preferred shareholders.
• Total net assets of approximately $1.0 billion indicate robust financial health.
• Long-standing history since 1927 showcases experience and stability in the investment sector.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of General American Investors Company, Inc. (NYSE symbol – GAM), a closed-end investment company, declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on September 26, 2022 to holders of record on September 7, 2022. This quarterly dividend and distribution represents a payment for the accrual period from June 24, 2022 through September 25, 2022. Preferred shareholders will be informed in early 2023 of the taxable portions of the distribution.

General American Investors was founded in 1927, has been publicly traded since its inception and has been listed on the NYSE since 1930. The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential. The Company has total net assets of approximately $1.0 billion applicable to its 24.0 million shares of common stock outstanding as of June 30, 2022. The aggregate liquidation value of the Company’s preferred stock is $190 million (NYSE symbol – GAM Pr B).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005876/en/

Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

What is the dividend declared by General American Investors (GAM) for September 2022?

General American Investors declared a cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B.

When is the dividend for GAM payable?

The dividend is payable on September 26, 2022.

What are the total net assets of General American Investors?

General American Investors has total net assets of approximately $1.0 billion.

What is the liquidation value of General American Investors' preferred stock?

The aggregate liquidation value of the preferred stock is $190 million.