General American Investors Company Announces Actions Taken by the Board of Directors

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 September 25, 2023 to holders of record on September 7, 2023. This quarterly dividend and distribution represents a payment for the accrual period from June 26, 2023 through September 24, 2023. Preferred shareholders will be informed in early 2024 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 $1.2 billion applicable to its 23.8 million shares of common stock outstanding as of June 30, 2023. The aggregate liquidation value of the Company’s preferred stock is $190 million (NYSE symbol – GAM Pr B).

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General American Investors Company, Inc. Eugene S. Stark Vice-President, Administration [phone]