General American Investors : Certified Shareholder Report for Year Ended December 31, 2019
February 20, 2020 at 05:03 pm EST
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For:
General American Investors Company, Inc.
530 Fifth Avenue
New York, New York 10036
Company Contact:
Eugene S. Stark
February 20, 2020
Vice-President, Administration
(212) 916-8447
For Immediate Release
GENERAL AMERICAN INVESTORS FILES CERTIFIED SHAREHOLDER REPORT
FOR YEAR ENDED DECEMBER 31, 2019
NEW YORK - Feb. 20 - General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), filed with the U.S. Securities and Exchange Commission (SEC) its Certified Shareholder Report (Form N-CSR) for the year ended December 31, 2019. The Form N-CSR, which contains the Company's 2019 Annual Report, is available at the SEC's website: www.sec.govand the Company's website: www.generalamericaninvestors.com.
The 2019 Annual Report is also available on the Company's website and the Proxy Statement, pertaining to the Company's Annual Meeting of Stockholders to be held on April 22, 2020, is also available on the website.
The Annual Report indicates that as of and for the year ended:
2019
2018
Net Assets Applicable to Common Stock
$1,081,697,614
$896,789,202
Per Common Share
$43.70*
$34.51**
Net Investment Income
$8,218,332
$8,173,881
Per Common Share
$0.33
$0.31
Net Gain (Loss) on Investments
$288,658,575
$(79,878,705)
Per Common Share
$11.78
$(3.03)
Common Shares Outstanding
24,753,191
25,984,054
Dividends and Distributions to Common Shareholders
$59,144,808
$70,424,179
Per Common Share
$2.45
$2.75
Dividends and Distributions to Preferred Shareholders
$11,311,972
$11,311,972
Per Common Share
$0.46
$0.44
After dividends and distributions of $2.45 per share paid in December 2019.
After combined dividends and distributions of $2.75 per share paid in February and December 2018.
The Company also reported that it purchased 1,926,695 shares of its outstanding common stock in the open
2
market during 2019. The Board of Directors has authorized repurchasing common shares when they are trading at a discount in excess of 8%. The Company is also authorized to repurchase up to one million shares of its 5.95% Cumulative Preferred Stock, Series B (symbol GAM Pr B on NYSE) when they are trading at less than $25 per share. The aggregate liquidation value of the preferred stock is $190.1 million.
The five largest stock holdings in the Company's portfolio at December 31, 2019 included: TJX Companies, Microsoft Corporation, Republic Services, ASML Holding N.V., and Alphabet Inc.
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.
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General American Investors Company Inc. published this content on 20 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2020 22:02:01 UTC
General American Investors Company, Inc. is a closed-end, diversified management investment company. The primary investment objective of the Company is long-term capital appreciation. The Company seeks investments worldwide in public and private companies. The Company invests in various industry sectors, such as information technology, financials, consumer discretionary, healthcare, consumer staples, industrials, communication services, energy, materials and other. The Companyâs portfolio includes Republic Services, Inc., Microsoft Corporation, Arch Capital Group Ltd., Alphabet Inc., Berkshire Hathaway Inc., Apple Inc., Everest Group, Ltd., The TJX Companies, Inc., ASML Holding N.V. and Nestle S.A.
GENERAL AMERICAN INVESTORS COMPANY, INC. 
