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, 2017 of $1,121,662,587 as compared with net assets applicable to its common stock of $1,022,534,692 at December 31, 2016. The value at September 30, 2017 included an increase in net assets resulting from operations for the nine month period of $129,214,623 and reductions of $24,663,082, representing the cost of 723,539 shares of the Company’s common stock that were repurchased during the nine month period, and $5,423,646 for dividends and distributions paid to common stockholders.
Net asset value per share of common stock at September 30, 2017 was $42.33, as compared with $37.56 per share at December 31, 2016.
The third quarter report indicates that as of and for the nine months ended:
9/30/17 | 9/30/16 | ||||||||
Net Assets Applicable to Common Stock | $1,121,662,587 | $1,076,439,805 | |||||||
Per Common Share | $42.33* | $39.98 | |||||||
Net Investment Income | $7,517,426 | $7,308,112 | |||||||
Per Common Share | $0.28 | $0.27 | |||||||
Net Gain (Loss) on Investments | $130,181,176 | $56,043,383 | |||||||
Per Common Share | $5.01 | $2.38 | |||||||
Dividends and Distributions to Preferred Stockholders | $8,483,979 | $8,483,979 | |||||||
Per Common Share | $0.32 | $0.31 | |||||||
Common Shares Outstanding | 26,497,576 | 26,924,813 |
* | After dividends and distributions of $3.28 per share paid to common stockholders in the aggregate in December 2016 and February 2017. | |
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/20171027005019/en/
Contacts:
Eugene S. Stark,
212-916-8447
Vice-President Administration