Welcome to our dedicated page for General American Investors news (Ticker: GAM), a resource for investors and traders seeking the latest updates and insights on General American Investors stock.
General American Investors Company, Inc. (NYSE: GAM) is a closed-end investment company that regularly issues detailed announcements about its operations, distributions, and governance. This news page aggregates company-issued updates so readers can follow how the firm pursues its stated objective of long-term capital appreciation through investment in companies with above-average growth potential.
Company news frequently covers actions taken by the Board of Directors, including authorizations and renewals of share repurchase programs for both common stock and its 5.95% Cumulative Preferred Stock, Series B. These releases describe the conditions under which shares may be repurchased, such as trading at a discount to net asset value for common stock or below liquidation preference for preferred stock.
Another recurring theme in General American Investors’ news is the declaration of dividends and capital gain distributions. The company provides breakdowns between distributions from net long-term capital gains on securities sold and dividends from estimated undistributed net investment income, along with record and payment dates. In some periods, it has also announced issue prices for additional common shares issued to stockholders who elect to receive dividends and distributions in stock rather than cash.
Regulatory and reporting updates also appear in the company’s news flow. For example, General American Investors has announced the filing of its Certified Shareholder Report (Form N-CSR) with the U.S. Securities and Exchange Commission, summarizing semi-annual results such as net assets, net asset value per share, net investment income, and net gains on investments. Governance items, such as appointments to the Board of Directors and descriptions of directors’ professional backgrounds, are also disclosed.
Investors and researchers can use this news page to review the company’s historical announcements on distributions, portfolio metrics, share repurchases, and board actions as reported in its public communications.
General American Investors Company, Inc. (NYSE:GAM) filed its Certified Shareholder Report for the year ending December 31, 2022. Key metrics include net assets applicable to common stock of $1,041.16 million, down from $1,282.79 million in 2021. The per share value also declined from $52.59 to $43.42. Net investment income increased significantly to $5.51 million from $0.56 million. However, the company reported a net loss on investments amounting to $182.78 million compared to a gain of $293.05 million in 2021. The company repurchased 666,903 shares and is authorized for further buybacks if shares trade below certain thresholds.
The Board of Directors of General American Investors (NYSE: GAM) declared a cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This payment is for the accrual period from December 27, 2022 to March 23, 2023, and will be payable on March 24, 2023 to shareholders of record as of March 7, 2023. The company, founded in 1927 and publicly traded since 1930, has total net assets around $1.1 billion and aims for long-term capital appreciation.
General American Investors (NYSE: GAM) announced the issuance price for shares under its 2022 year-end dividend, set at $36.135 per share, reflecting lower than the net asset value of $43.47. The dividend, amounting to $1.00 per share, includes $0.87 from long-term capital gains and $0.13 from undistributed net investment income. Payment is scheduled for December 29, 2022. As of November 30, 2022, the company reported net assets of approximately $1.1 billion.
The Board of Directors of General American Investors (NYSE:GAM) has authorized the repurchase of an additional 1,000,000 shares of 5.95% Cumulative Preferred Stock, Series B, raising the total available for repurchase to 1,604,687 shares when trading below the $25 liquidation preference. To date, 395,313 shares have been repurchased. The annual shareholder meeting is set for April 26, 2023, and will be held virtually if necessary, due to health concerns. As of November 30, 2022, total net assets were approximately $1.1 billion.
The Board of Directors of General American Investors (NYSE:GAM) has declared a combined $1.00 per share dividend and distribution. This comprises $0.87 from long-term capital gains and $0.13 from undistributed net investment income for 2022. Payments are scheduled for December 29, 2022 to stockholders of record on November 14, 2022. Additionally, a dividend of $0.371875 per share will be paid in cash on December 27, 2022 to preferred stockholders. As of October 31, 2022, the firm's net assets reached approximately $1.0 billion.
General American Investors Company (GAM) reported net assets of $967,087,331 as of September 30, 2022, down from $1,282,788,664 at year-end 2021. This decrease resulted from a $285,681,617 loss in operations, share repurchases costing $17,952,160, and a distribution of $12,183,010 to shareholders. The net asset value per share declined to $40.43 from $52.59. Notably, a significant net loss on investments was recorded at $281,315,175.
General American Investors Company, listed on NYSE as GAM, has filed its Certified Shareholder Report (Form N-CSR) for the six months ending June 30, 2022. Key figures include net assets applicable to common stock at $1,007,632,841, down from $1,227,414,148 a year prior. Net assets per share decreased to $42.03 from $50.76. Net investment income rose to $2,586,971 from $769,204. However, a significant net loss on investments was reported at ($244,029,899), compared to a gain of $172,290,450 the previous year.
The Board of Directors of General American Investors (NYSE: GAM) has declared a cash dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This distribution, covering the period from June 24, 2022 to September 25, 2022, is payable on September 26, 2022, to shareholders recorded by September 7, 2022. General American Investors aims for long-term capital appreciation with total net assets around $1.0 billion and a liquidation value of its preferred stock at $190 million.
General American Investors Company, as of March 31, 2022, reported net assets applicable to its common stock at $1,233,414,742, a decline from $1,282,788,664 on December 31, 2021. The decrease included a net operational loss of $35,251,461 and a net reduction of $1,939,451 due to stock repurchases. Notable investments included Microsoft, Alphabet, and Apple. The company paid $12,183,010 to shareholders in February 2022 and reported a net loss on investments of (32,918,869).
The Board of Directors of General American Investors Company (GAM) has declared a dividend of $0.371875 per share on its 5.95% cumulative preferred stock, series B. The dividend is payable in cash on June 24, 2022, to shareholders of record as of June 7, 2022. This quarterly distribution covers the accrual period from March 24, 2022, to June 23, 2022. Founded in 1927 and publicly traded since 1930, GAM aims for long-term capital appreciation with net assets of approximately $1.2 billion.