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, 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
Source: General American Investors Company, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.