General American Investors Company, Inc. Names Clara E. Del Villar to the Board; Declares Spill-Over Capital Gain Distribution on Common Stock, Payable on February 10, 2017; Declares Preferred Stock Distribution, Payable on March 24, 2017
January 18, 2017 at 04:07 pm EST
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The board of directors of General American Investors Company, Inc. reported that Clara E. Del Villar, an experienced senior executive in the financial services, technology and energy industries, has been appointed to the board of directors of the company.
The board of directors of the company also declared a spill-over capital gain distribution on its common stock totaling $0.20 per share from net long-term profits on securities sold during the period November 1, 2016 through December 31, 2016. This is sourced from long-term capital gain income and is expected to be taxable as such. The dividend and distribution is payable in cash on February 10, 2017 to stockholders of record on January 30, 2017 and is to be included in stockholders' federal income tax returns for 2017.
The board of directors of the company also declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on March 24, 2017 to holders of record on March 7, 2017.
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. Names Clara E. Del Villar to the Board; Declares Spill-Over Capital Gain Distribution on Common Stock, Payable on February 10, 2017; Declares Preferred Stock Distribution, Payable on March 24, 2017
GENERAL AMERICAN INVESTORS COMPANY, INC. 