General American Investors Company, Inc. - GAM STOCK NEWS

General American Investors Company, Inc. (NYSE: GAM) has declared a combined dividend and distribution of $2.65 per share on its outstanding shares of common stock. The distribution includes $2.10 per share from net long-term capital gains and $0.55 per share from estimated undistributed net investment income for the full year 2023. The amounts are payable on December 28, 2023, to stockholders of record on November 13, 2023. Holders of common stock can choose to receive additional shares or cash. The company also declared a dividend and distribution of $0.371875 per share on its 5.95% Cumulative Preferred Stock, Series B.

General American Investors Company, Inc. (GAM) reported net assets applicable to the Company’s common stock of $1,163,954,850 as of September 30, 2023, compared to $1,041,159,645 at December 31, 2022. Net asset value per share increased from $43.42 to $49.48. Net assets increased by $141,419,172 due to operations and a reduction of $18,623,967 from stock repurchases.

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.

General American Investors Company, Inc. (NYSE:GAM) filed its Certified Shareholder Report for the year ending December 31, 2022. Key metrics include net assets applicable to common stock of $1,041.16 million, down from $1,282.79 million in 2021. The per share value also declined from $52.59 to $43.42. Net investment income increased significantly to $5.51 million from $0.56 million. However, the company reported a net loss on investments amounting to $182.78 million compared to a gain of $293.05 million in 2021. The company repurchased 666,903 shares and is authorized for further buybacks if shares trade below certain thresholds.

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.

General American Investors (NYSE: GAM) announced the issuance price for shares under its 2022 year-end dividend, set at $36.135 per share, reflecting lower than the net asset value of $43.47. The dividend, amounting to $1.00 per share, includes $0.87 from long-term capital gains and $0.13 from undistributed net investment income. Payment is scheduled for December 29, 2022. As of November 30, 2022, the company reported net assets of approximately $1.1 billion.