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, 2018 of $1,123,052,995 as compared with net assets applicable to its common stock of $1,070,483,445 at December 31, 2017. The value at September 30, 2018 included an increase in net assets resulting from operations for the nine month period of $95,197,633 and reductions of $29,522,143, representing the cost of 845,708 shares of the Company’s common stock that were repurchased during the nine month period, and $13,105,940 for dividends and distributions paid to common stockholders.
Net asset value per share of common stock at September 30, 2018 was $43.86, as compared with $40.47 per share at December 31, 2017.
The third quarter report indicates that as of and for the nine months ended:
9/30/18 | 9/30/17 | |||||||||||
| Net Assets Applicable to Common Stock | $1,123,052,995 | $1,121,662,587 | ||||||||||
| Per Common Share | $43.86* | $42.33 | ||||||||||
| Net Investment Income | $5,961,693 | $7,517,426 | ||||||||||
| Per Common Share | $0.23 | $0.28 | ||||||||||
| Net Gain (Loss) on Investments | $97,719,919 | $130,181,176 | ||||||||||
| Per Common Share | $3.99 | $5.01 | ||||||||||
| Dividends and Distributions to Preferred Stockholders | $8,483,979 | $8,483,979 | ||||||||||
| Per Common Share | $0.33 | $0.32 | ||||||||||
| Common Shares Outstanding | 25,607,428 | 26,497,576 |
| * | After dividends and distributions of $3.59 per share paid to common stockholders in the aggregate in December 2017 and February 2018. | |||
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/20181026005354/en/
Contacts:
Eugene S. Stark,
212-916-8447
Vice-President Administration
