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

Rhea-AI Summary

General American Investors (NYSE: GAM) announced two dividend distributions. The Board declared a $0.25 per share spill-over capital gain distribution on common stock from net long-term profits on securities sold during November-December 2024, payable March 7, 2025, to stockholders of record February 24, 2025.

Additionally, a $0.371875 per share dividend was declared on its 5.95% cumulative preferred stock (series B), payable March 24, 2025, to holders of record March 7, 2025, covering December 24, 2024, through March 23, 2025.

The company, founded in 1927 and NYSE-listed since 1930, focuses on long-term capital appreciation through investments in companies with above-average growth potential. GAM currently manages $1.4 billion in total net assets across 23.5 million common shares, with preferred stock having an aggregate liquidation value of $190 million.

Positive

• Distribution of $0.25 per share capital gain to common stockholders
• Regular preferred stock dividend maintained at $0.371875 per share
• Substantial asset base of $1.4 billion in total net assets

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 $0.25 per share from net long-term profits on securities sold during the period November 1, 2024 through December 31, 2024. 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 March 7, 2025 to stockholders of record on February 24, 2025 and is to be included in stockholders’ federal income tax returns for 2025.

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, 2025 to holders of record on March 7, 2025. This quarterly dividend and distribution represents a payment for the accrual period from December 24, 2024 through March 23, 2025. Preferred shareholders will be informed in early 2026 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 $1.4 billion applicable to its 23.5 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/20250212987867/en/

Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

When will GAM pay its $0.25 capital gain distribution in 2025?

GAM will pay the $0.25 per share capital gain distribution on March 7, 2025, to stockholders of record as of February 24, 2025.

What is the preferred stock dividend amount for GAM Series B shares?

GAM's 5.95% cumulative preferred stock Series B will pay a dividend of $0.371875 per share on March 24, 2025.

What are GAM's total net assets as reported in the latest announcement?

General American Investors reported total net assets of approximately $1.4 billion.

How many common shares does GAM have outstanding?

GAM has 23.5 million shares of common stock outstanding.

What is the liquidation value of GAM's preferred stock?

The aggregate liquidation value of GAM's preferred stock is $190 million.