General American Investors Company, Inc. Quarterly Dividend and Distribution on 5.95% Preferred Stock

Rhea-AI Summary

The Board of Directors of General American Investors (NYSE:GAM) declared a quarterly cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This dividend will be paid on June 26, 2023, to shareholders on record as of June 7, 2023. The payment covers the accrual period from March 24, 2023 through June 25, 2023. The company, founded in 1927, has net assets approaching $1.1 billion and is focused on long-term capital appreciation through investments in companies with high growth potential. Additionally, the aggregate liquidation value of the company’s preferred stock stands at $190 million.

Positive

• Declared a quarterly dividend of $0.371875 per share for preferred stock.
• Net assets approximately $1.1 billion support shareholder value.
• Established history since 1927 indicates stability and experience.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on June 26, 2023 to holders of record on June 7, 2023. This quarterly dividend and distribution represents a payment for the accrual period from March 24, 2023 through June 25, 2023. Preferred shareholders will be informed in early 2024 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 net assets of approximately $1.1 billion applicable to its 24.0 million shares of common stock outstanding. The aggregate liquidation value of the Company’s preferred stock is $190 million. Its preferred shares (symbol GAM Pr B) are also listed on the NYSE.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005979/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?

The declared dividend amount is $0.371875 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on June 26, 2023.

What is the record date for the dividend payment?

The record date for the dividend payment is June 7, 2023.

What is the purpose of General American Investors?

The company aims for long-term capital appreciation through investments in high-growth potential companies.