General American Investors Company Declares Year-End Dividends and Distributions on Common and Preferred Stock
General American Investors Company (GAM) has declared a combined dividend and distribution of $2.50 per share for its common stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
NEW YORK--(BUSINESS WIRE)--Today, the Board of Directors of General American Investors Company, Inc. (NYSE symbol – GAM), a closed-end investment company, declared a combined dividend and distribution of
-
A distribution of
$2.27 per share from net long-term capital gains on securities sold. -
A dividend of
$0.23 per share from estimated undistributed net investment income for the full year 2020.
Determination as to taxability will be provided in January 2021. Both amounts are payable on December 30, 2020 to stockholders of record on November 16, 2020, and are to be included in stockholders’ Federal income tax returns for 2020. Holders of common stock will receive the dividend and distribution under one of two options:
-
Receive additional full and fractional shares of the Company’s common stock for the combined total dividend and distribution of
$2.50 per share or, - Elect to receive cash for the dividend and distribution.
The Board of Directors declared on its
General 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. As of October 31, 2020, the Company had net assets of approximately
Contacts
Eugene S. Stark
Vice-President, Administration
(212) 916-8447