General American Investors Company Announces Actions Taken by the Board of Directors
NEW YORK--(BUSINESS WIRE)--Jan 29, 2020--
The Board of Directors of General American Investors Company, Inc. (NYSE symbol – GAM), a closed-end investment company, declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on March 24, 2020 to holders of record on March 9, 2020. This quarterly dividend and distribution represents a payment for the accrual period from December 24, 2019 through March 23, 2020. Preferred shareholders will be informed in early 2021 of the taxable portions of the distribution.
General American Investors was founded in 1927, has been publicly traded since its inception and has been listed on the NYSE since 1930. The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential. The Company has total net assets of approximately $1.1 billion applicable to its 24.8 million shares of common stock outstanding as of December 31, 2019. The aggregate liquidation value of the Company’s preferred stock is $190 million (NYSE symbol – GAM Pr B).
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CONTACT: Eugene S. Stark
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: General American Investors Company, Inc.
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PUB: 01/29/2020 04:25 PM/DISC: 01/29/2020 04:26 PM