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, 2016 of $1,076,439,805 as compared with net assets applicable to its common stock of $1,068,028,205 at December 31, 2015. The value at September 30, 2016 included an increase in net assets resulting from operations for the nine month period of $54,867,516 and reductions of $43,629,046, representing the cost of 1,371,884 shares of the Company’s common stock that were repurchased during the nine month period, and $2,826,870 for dividends and distributions paid to common stockholders.
Net asset value per share of common stock at September 30, 2016 was $39.98, as compared with $37.74 per share at December 31, 2015.
The third quarter report indicates that as of and for the nine months ended:
9/30/16 | 9/30/15 | |||||||
| Net Assets Applicable to Common Stock | $1,076,439,805 | $1,080,883,111 | ||||||
| Per Common Share | $39.98* | $37.48 | ||||||
| Net Investment Income | $7,308,112 | $9,640,985 | ||||||
| Per Common Share | $0.27 | $0.33 | ||||||
| Net Gain (Loss) on Investments | $56,043,383 | ($78,365,005) | ||||||
| Per Common Share | $2.38 | ($2.33) | ||||||
| Dividends and Distributions to Preferred Stockholders | $8,483,979 | $8,483,979 | ||||||
| Per Common Share | $0.31 | $0.29 | ||||||
| Common Shares Outstanding | 26,924,813 | 28,838,704 | ||||||
| * | After dividends and distributions of $1.25 per share paid to common stockholders in the aggregate in December 2015 and February 2016. | |
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: http://www.businesswire.com/news/home/20161026006533/en/
Contacts:
Eugene S. Stark, (212)
916-8447
Vice-President Administration
