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

Rhea-AI Summary

General American Investors Company, Inc. declared a dividend and distribution on its 5.95% cumulative preferred stock, series B. The payment of $0.371875 per share will be made on June 24, 2024, to shareholders of record on June 7, 2024, covering the period from March 25, 2024, through June 23, 2024. The Company, founded in 1927, focuses on long-term capital appreciation through investments in high-growth potential companies. With approximately $1.3 billion in net assets and 23.6 million common shares outstanding, General American Investors is listed on the NYSE since 1930.

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, 2024 to holders of record on June 7, 2024. This quarterly dividend and distribution represents a payment for the accrual period from March 25, 2024 through June 23, 2024. Preferred shareholders will be informed in early 2025 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 $1.3 billion applicable to its 23.6 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.

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Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

What dividend and distribution did General American Investors Company, Inc. declare on its 5.95% cumulative preferred stock, series B?

General American Investors declared a dividend and distribution of $0.371875 per share payable in cash on June 24, 2024, to holders of record on June 7, 2024, covering the period from March 25, 2024, through June 23, 2024.

When will the dividend payment be made to shareholders?

The dividend payment of $0.371875 per share will be made on June 24, 2024.

What is the objective of General American Investors Company, Inc.?

The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential.

How much net assets does General American Investors Company, Inc. have?

General American Investors has approximately $1.3 billion in net assets.

When was General American Investors Company, Inc. founded?

General American Investors Company, Inc. was founded in 1927.