General American Investors Reports Net Assets as of September 30, 2022

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, 2022 of $967,087,331 as compared with net assets applicable to its common stock of $1,282,788,664 at December 31, 2021. The value at September 30, 2022 reflects a decrease in net assets resulting from operations for the nine-month period of $285,681,617, a reduction of $17,952,160 representing the cost of repurchasing 473,540 shares of the Company’s common stock partially offset by the issuance of 2,730 shares valued at $115,454, and a distribution of $12,183,010 to common stockholders paid on February 18, 2022.

Net asset value per share of common stock at September 30, 2022 was $40.43, as compared with $52.59 per share at December 31, 2021.

The third quarter report indicates that as of and for the nine months ended:

 

9/30/2022

 

9/30/2021

 

 

 

 

Net Assets Applicable to Common Stock

$967,087,331

 

$1,210,235,496

Per Common Share

$40.43*

 

$50.61

 

 

 

 

Net Investment Income

$4,117,537

 

$687,633

Per Common Share

$0.16

 

$0.03

 

 

 

 

Net Gain (Loss) on Investments

($281,315,175)

 

$169,805,144

Per Common Share

($11.47)

 

$7.18

 

 

 

 

Dividends and Distributions to Preferred Stockholders

$8,483,979

 

$8,483,979

Per Common Share

$0.35

 

$0.35

 

 

 

 

Dividends and Distributions to Common Stockholders

$12,183,010

 

$6,149,060

Per Common Share

$0.50

 

$0.25

 

 

 

 

Common Shares Outstanding

23,921,324

 

23,914,322

 

 

*After dividends and distributions of $3.05 per share paid to common stockholders in December 2021 and $0.50 per share paid in February 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/20221031005662/en/

Eugene S. Stark, Vice-President Administration [phone]