{"id":519403,"date":"2021-07-28T16:49:04","date_gmt":"2021-07-28T20:49:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/general-american-investors-company-announces-actions-taken-by-the-board-of-directors-2\/"},"modified":"2021-07-28T16:49:04","modified_gmt":"2021-07-28T20:49:04","slug":"general-american-investors-company-announces-actions-taken-by-the-board-of-directors-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/general-american-investors-company-announces-actions-taken-by-the-board-of-directors-2\/","title":{"rendered":"General American Investors Company Announces Actions Taken by the Board of Directors"},"content":{"rendered":"

<\/p>\n

General American Investors Company <\/b>Announces Actions Taken by the Board of Directors<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe Board of Directors of General American Investors Company, Inc. (NYSE symbol \u2013 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 September 24, 2021 to holders of record on September 7, 2021. This quarterly dividend and distribution represents a payment for the accrual period from June 24, 2021 through September 23, 2021. Preferred shareholders will be informed in early 2022 of the taxable portions of the distribution.\n<\/p>\n

\nThe Board of Directors also authorized the repurchase of an additional 2,000,000 outstanding shares of common stock when the shares are trading at a discount from the underlying net asset value by at least 8%. This continues a repurchase program which began in March 1995. Through June 30, 2021, the Company has repurchased 30.6 million shares of common stock for $924 million at an average discount of 13.9%.\n<\/p>\n

\nGeneral 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 $1.2 million applicable to its 24.2 million shares of common stock outstanding as of June 30, 2021. The aggregate liquidation value of the Company\u2019s preferred stock is $190 million (NYSE symbol \u2013 <\/b>GAM Pr B).\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210728006037\/en\/<\/a><\/span><\/p>\n

\nEugene S. Stark
\n
Vice-President, Administration
\n
(212) 916-8447\n<\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

General American Investors Company Announces Actions Taken by the Board of Directors NEW YORK–(BUSINESS WIRE)– The Board of Directors of General American Investors Company, Inc. (NYSE symbol \u2013 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 September 24, 2021 to holders of record on September 7, 2021. This quarterly dividend and distribution represents a payment for the accrual period from June 24, 2021 through September 23, 2021. Preferred shareholders will be informed in early 2022 of the taxable portions of the distribution. The Board of Directors also authorized the repurchase of an additional 2,000,000 outstanding shares of common stock when the shares … <\/p>\n

Continue reading “General American Investors Company Announces Actions Taken by the Board of Directors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-519403","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGeneral American Investors Company Announces Actions Taken by the Board of Directors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/general-american-investors-company-announces-actions-taken-by-the-board-of-directors-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General American Investors Company Announces Actions Taken by the Board of Directors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"General American Investors Company Announces Actions Taken by the Board of Directors NEW YORK–(BUSINESS WIRE)– The Board of Directors of General American Investors Company, Inc. (NYSE symbol \u2013 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 September 24, 2021 to holders of record on September 7, 2021. This quarterly dividend and distribution represents a payment for the accrual period from June 24, 2021 through September 23, 2021. Preferred shareholders will be informed in early 2022 of the taxable portions of the distribution. 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