General American Investors Reports Net Assets as of September 30, 2023
NEW YORK, October 31, 2023--(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, 2023 of $1,163,954,850 as compared with net assets applicable to its common stock of $1,041,159,645 at December 31, 2022. The value at September 30, 2023 reflects an increase in net assets resulting from operations for the nine-month period of $141,419,172, a reduction of $18,623,967 representing the cost of repurchasing 456,016 shares of the Company’s common stock.
Net asset value per share of common stock at September 30, 2023 was $49.48, as compared with $43.42 per share at December 31, 2022.
The third quarter report indicates that as of and for the nine months ended:
9/30/2023 | 9/30/2022 | |||
Net Assets Applicable to Common Stock | $1,163,954,850 | $967,087,331 | ||
Per Common Share | $49.48* | $40.43 | ||
Net Investment Income | $8,562,530 | $4,117,537 | ||
Per Common Share | $0.36 | $0.16 | ||
Net Gain (Loss) on Investments | $141,340,621 | ($281,315,175) | ||
Per Common Share | $6.06 | ($11.47) | ||
Dividends and Distributions to Preferred Stockholders | $8,483,979 | $8,483,979 | ||
Per Common Share | $0.36 | $0.35 | ||
Dividends and Distributions to Common Stockholders | $0.00 | $12,183,010 | ||
Per Common Share | $0.00 | $0.50 | ||
Common Shares Outstanding | 23,523,006 | 23,921,324 |
* | After dividends and distributions of $1.00 per share paid to common stockholders in December 2022. |
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231031703250/en/
Contacts
Eugene S. Stark, Vice-President Administration
(212) 916-8447