General American Investors Company Common/Preferred Stock – Dividend/Distribution

Rhea-AI Summary

The Board of Directors of General American Investors (NYSE:GAM) declared a $0.50 spill-over capital gain distribution per share from long-term profits for the period from November 1, 2021 to December 31, 2021. This taxable dividend is payable in cash on February 18, 2022 to stockholders of record on February 7, 2022. Additionally, a dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B, is declared, payable on March 24, 2022 to record holders on March 7, 2022.

Positive

• Declared a cash distribution of $0.50 per common share from long-term capital gains.
• Total net assets approximately $1.2 billion, indicating strong financial health.
• Regular dividend payment on preferred stock demonstrates commitment to shareholders.

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 a spill-over capital gain distribution on its common stock totaling $0.50 per share from net long-term profits on securities sold during the period November 1, 2021 through December 31, 2021. This is sourced from long-term capital gain income and is expected to be taxable as such. The dividend and distribution is payable in cash on February 18, 2022 to stockholders of record on February 7, 2022 and is to be included in stockholders’ federal income tax returns for 2022.

The Board of Directors also declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on March 24, 2022 to holders of record on March 7, 2022. This quarterly dividend and distribution represents a payment for the accrual period from December 24, 2021 through March 23, 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 $1.2 billion applicable to its 24.4 million shares of common stock outstanding. 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/20220126005861/en/

Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

What is the dividend amount declared by General American Investors (GAM)?

General American Investors declared a dividend of $0.50 per share on common stock and $0.371875 per share on its preferred stock.

When will the cash distribution be paid to shareholders of General American Investors (GAM)?

The cash distribution will be paid on February 18, 2022, to stockholders of record on February 7, 2022.

What is the payment date for the preferred stock dividend of General American Investors (GAM)?

The preferred stock dividend will be paid on March 24, 2022, to holders of record on March 7, 2022.

How will the capital gain distribution from General American Investors (GAM) be taxed?

The capital gain distribution is expected to be taxable as long-term capital gains.

What are the total net assets of General American Investors (GAM)?

General American Investors has total net assets of approximately $1.2 billion.