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:
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9/30/2023 |
9/30/2022 |
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Net Assets Applicable to Common Stock |
$1,163,954,850 |
$967,087,331 |
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Per Common Share |
$49.48* |
$40.43 |
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Net Investment Income |
$8,562,530 |
$4,117,537 |
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Per Common Share |
$0.36 |
$0.16 |
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Net Gain (Loss) on Investments |
$141,340,621 |
($281,315,175) |
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Per Common Share |
$6.06 |
($11.47) |
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Dividends and Distributions to Preferred Stockholders |
$8,483,979 |
$8,483,979 |
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Per Common Share |
$0.36 |
$0.35 |
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Dividends and Distributions to Common Stockholders |
$0.00 |
$12,183,010 |
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Per Common Share |
$0.00 |
$0.50 |
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Common Shares Outstanding |
23,523,006 |
23,921,324 |
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* |
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
