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

Rhea-AI Summary

General American Investors Company (NYSE: GAM) has announced a spill-over capital gain distribution of $0.25 per share, sourced from long-term capital gains. This distribution will be payable on February 19, 2021 to shareholders on record as of February 8, 2021. Additionally, a dividend of $0.371875 per share will be paid on its 5.95% cumulative preferred stock on March 24, 2021, for shareholders of record on March 8, 2021. The company focuses on long-term capital appreciation and holds total net assets of approximately $1.1 billion.

Positive

• Capital gain distribution of $0.25 per share indicates strong performance from long-term investments.
• Total net assets of approximately $1.1 billion signal financial stability.
• Preferred stock dividend of $0.371875 suggests ongoing income for shareholders.

Negative

• None.

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, 2020 through December 31, 2020. 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 19, 2021 to stockholders of record on February 8, 2021 and is to be included in stockholders’ federal income tax returns for 2021.

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, 2021 to holders of record on March 8, 2021. This quarterly dividend and distribution represents a payment for the accrual period from December 24, 2020 through March 23, 2021. Preferred shareholders will be informed in early 2022 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 $1.1 billion applicable to its 24.7 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/20210127005744/en/

FAQ

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

General American Investors Company declared a dividend of $0.25 per share from capital gains.

When will the dividend declared by GAM be paid?

The dividend will be payable on February 19, 2021, to shareholders of record on February 8, 2021.

What is the payment date for the preferred stock dividend of GAM?

The preferred stock dividend of $0.371875 per share will be paid on March 24, 2021.