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 Company (GAM) has declared a dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. The dividend is payable in cash on June 24, 2022, to shareholders of record as of June 7, 2022. This quarterly distribution covers the accrual period from March 24, 2022, to June 23, 2022. Founded in 1927 and publicly traded since 1930, GAM aims for long-term capital appreciation with net assets of approximately $1.2 billion.

Positive

• Dividend declared at $0.371875 per share signifies ongoing income for preferred shareholders.
• Company's long-standing history since 1927 indicates stability.
• Net assets are approximately $1.2 billion, reflecting strong financial health.

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 24, 2022 to holders of record on June 7, 2022. This quarterly dividend and distribution represents a payment for the accrual period from March 24, 2022 through June 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 net assets of approximately $1.2 billion applicable to its 24.3 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/20220420005684/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)?

The dividend declared is $0.371875 per share.

When is the dividend payment date for GAM's preferred stock?

The dividend is payable on June 24, 2022.

What is the record date for determining preferred shareholders eligible for the dividend?

The record date is June 7, 2022.

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

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

What is the historical significance of General American Investors (GAM)?

The company has been publicly traded since its inception in 1927 and listed on the NYSE since 1930.