General American Investors Company, Inc. - GAM STOCK NEWS

General American Investors Company (NYSE: GAM) announced a year-end dividend of $3.05 per share, payable on December 30, 2021. The shares will be issued at $42.70, below the net asset value of $50.86. This dividend consists of $2.70 from long-term capital gains and $0.35 from undistributed net investment income. The company has net assets of approximately $1.2 billion as of November 30, 2021, and aims for long-term capital appreciation through strategic investments.

The Board of Directors of General American Investors has renewed its authorization for the repurchase of 604,687 shares of 5.95% Cumulative Preferred Stock, Series B. This program allows repurchases when shares trade below the liquidation preference of $25 per share. Since the initial authorization in 2008, 395,313 shares have been repurchased. Additionally, the annual shareholder meeting is scheduled for April 20, 2022, with options for virtual attendance due to health concerns, ensuring compliance with regulations.

The Board of Directors of General American Investors Company (NYSE: GAM) declared a combined dividend and distribution of $3.05 per share, consisting of $2.70 from net long-term capital gains and $0.35 from undistributed net investment income. These payments are scheduled for December 30, 2021, to shareholders on record as of November 15, 2021. Additionally, a dividend of $0.371875 per share for Cumulative Preferred Stock, Series B will be paid on December 24, 2021.

General American Investors Company (NYSE:GAM) reported net assets of $1,210,235,496 as of September 30, 2021, up from $1,087,971,063 at year-end 2020. The increase includes $162,008,798 from operations, offset by $33,595,305 for repurchased shares. The net asset value per share rose to $50.61, compared to $44.00 at the end of 2020. Notably, net investment income fell significantly to $687,633 from $3,928,010, and the company reported a net gain on investments of $169,805,144.

General American Investors Company, a closed-end fund traded on NYSE under the symbol GAM, submitted its Certified Shareholder Report for the six months ending June 30, 2021. The net assets applicable to common stock increased to $1.23 billion from $949 million year-over-year. The net assets per common share grew to $50.76, up from $38.51. However, net investment income dropped to $769,204 compared to $3.59 million for the previous year. The report indicates the value of net gain on investments at $172.29 million.

The Board of Directors of General American Investors Company (NYSE symbol – GAM) has declared a quarterly dividend of $0.371875 per share on its 5.95% cumulative preferred stock, Series B, payable on September 24, 2021, to shareholders of record as of September 7, 2021. Additionally, the company authorized a repurchase of 2 million outstanding shares of common stock when trading at a discount of at least 8% from the net asset value, continuing a program initiated in 1995. As of June 30, 2021, General American Investors has total net assets of approximately $1.2 million.

General American Investors Company reported net assets of $1,135,515,720 as of March 31, 2021, a rise from $1,087,971,063 at the end of 2020. This increase included $66,566,835 from operations and a $12,873,118 decrease due to share repurchases. Key financial figures show that net investment income was $35,300, contrasting with $1,523,030 a year prior, while net gain on investments was $69,359,528 compared to a loss of $262,645,053 in the previous year. The company had 24,393,364 common shares outstanding and the five largest holdings included Microsoft and Berkshire Hathaway.

The Board of Directors of General American Investors Company has declared a dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B, payable in cash on June 24, 2021.

Record date for this dividend is June 7, 2021. The payment covers the accrual period from March 24 through June 23, 2021. Shareholders will receive information on the taxable portions of the distribution in early 2022.