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General American Investors Reports Net Assets as of September 30, 2022
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
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, 2022 of $967,087,331 as compared with net assets applicable to its common stock of $1,282,788,664 at December 31, 2021. The value at September 30, 2022 reflects a decrease in net assets resulting from operations for the nine-month period of $285,681,617, a reduction of $17,952,160 representing the cost of repurchasing 473,540 shares of the Company’s common stock partially offset by the issuance of 2,730 shares valued at $115,454, and a distribution of $12,183,010 to common stockholders paid on February 18, 2022.
Net asset value per share of common stock at September 30, 2022 was $40.43, as compared with $52.59 per share at December 31, 2021.
The third quarter report indicates that as of and for the nine months ended:
9/30/2022
9/30/2021
Net Assets Applicable to Common Stock
$967,087,331
$1,210,235,496
Per Common Share
$40.43*
$50.61
Net Investment Income
$4,117,537
$687,633
Per Common Share
$0.16
$0.03
Net Gain (Loss) on Investments
($281,315,175)
$169,805,144
Per Common Share
($11.47)
$7.18
Dividends and Distributions to Preferred Stockholders
$8,483,979
$8,483,979
Per Common Share
$0.35
$0.35
Dividends and Distributions to Common Stockholders
$12,183,010
$6,149,060
Per Common Share
$0.50
$0.25
Common Shares Outstanding
23,921,324
23,914,322
*After dividends and distributions of $3.05 per share paid to common stockholders in December 2021 and $0.50 per share paid in February 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.
