NEW YORK--(BUSINESS WIRE)--
General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), reported net assets applicable to the Company’s common stock as of September 30, 2018 of $1,123,052,995 as compared with net assets applicable to its common stock of $1,070,483,445 at December 31, 2017. The value at September 30, 2018 included an increase in net assets resulting from operations for the nine month period of $95,197,633 and reductions of $29,522,143, representing the cost of 845,708 shares of the Company’s common stock that were repurchased during the nine month period, and $13,105,940 for dividends and distributions paid to common stockholders.
Net asset value per share of common stock at September 30, 2018 was $43.86, as compared with $40.47 per share at December 31, 2017.
The third quarter report indicates that as of and for the nine months ended:
|Net Assets Applicable to Common Stock||$1,123,052,995||$1,121,662,587|
|Per Common Share||$43.86*||$42.33|
|Net Investment Income||$5,961,693||$7,517,426|
|Per Common Share||$0.23||$0.28|
|Net Gain (Loss) on Investments||$97,719,919||$130,181,176|
|Per Common Share||$3.99||$5.01|
|Dividends and Distributions to Preferred Stockholders||$8,483,979||$8,483,979|
|Per Common Share||$0.33||$0.32|
|Common Shares Outstanding||25,607,428||26,497,576|
|*||After dividends and distributions of $3.59 per share paid to common stockholders in the aggregate in December 2017 and February 2018.|
For more current information concerning the Company’s net asset value per common share and market price, please visit the Company’s website at: www.generalamericaninvestors.com.