General American Investors Company Preferred Stock – Dividend/Distribution

Rhea-AI Summary

The Board of Directors of General American Investors (NYSE: GAM) declared a cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This payment is for the accrual period from December 27, 2022 to March 23, 2023, and will be payable on March 24, 2023 to shareholders of record as of March 7, 2023. The company, founded in 1927 and publicly traded since 1930, has total net assets around $1.1 billion and aims for long-term capital appreciation.

Positive

• Declared quarterly dividend of $0.371875 per share, enhancing shareholder income.
• Stable financial foundation with total net assets of approximately $1.1 billion.

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 on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on March 24, 2023 to holders of record on March 7, 2023. This quarterly dividend and distribution represents a payment for the accrual period from December 27, 2022 through March 23, 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 total 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 (NYSE symbol – GAM Pr B).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005768/en/

Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

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

The dividend amount for GAM's Series B preferred stock is $0.371875 per share.

When will the dividend for GAM be paid?

The dividend for GAM will be paid on March 24, 2023.

What is the record date for the GAM dividend?

The record date for the GAM dividend is March 7, 2023.

For which period is the GAM dividend declared?

The GAM dividend is declared for the accrual period from December 27, 2022, to March 23, 2023.

What are the total net assets of General American Investors?

General American Investors has total net assets of approximately $1.1 billion.