GAM - General American Investors Reports Net Assets as of September 30 2023
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 |
| Per Common Share |
| $49.48* |
| $40.43 |
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| Net Investment Income |
| $8,562,530 |
| $4,117,537 |
| Per Common Share |
| $0.36 |
| $0.16 |
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| Net Gain (Loss) on Investments |
| $141,340,621 |
| ($281,315,175) |
| Per Common Share |
| $6.06 |
| ($11.47) |
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| Dividends and Distributions to Preferred Stockholders |
| $8,483,979 |
| $8,483,979 |
| Per Common Share |
| $0.36 |
| $0.35 |
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| Dividends and Distributions to Common Stockholders |
| $0.00 |
| $12,183,010 |
| Per Common Share |
| $0.00 |
| $0.50 |
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| 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/
Eugene S. Stark, Vice-President Administration
(212) 916-8447