General American Investors : Net Assets as of September 30, 2016
October 26, 2016 at 05:16 pm EDT
Share
For:
General American Investors Company, Inc. 100 Park Avenue, New York, NY 10017
Company Contact:
Eugene S. Stark, Vice-President Administration (212) 916-8447
October 26, 2016 For Immediate Release
GENERAL AMERICAN INVESTORS REPORTS NET ASSETS AS OF SEPTEMBER 30, 2016
NEW YORK, -- Oct. 25 -- 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, 2016 of $1,076,439,805 as compared with net assets applicable to its common stock of $1,068,028,205 at December 31, 2015. The value at September 30, 2016 included an increase in net assets resulting from operations for the nine month period of $54,867,516 and reductions of $43,629,046, representing the cost of 1,371,884 shares of the Company's common stock that were repurchased during the nine month period, and $2,826,870 for dividends and distributions paid to common stockholders.
Net asset value per share of common stock at September 30, 2016 was $39.98, as compared with
$37.74 per share at December 31, 2015.
The third quarter report indicates that as of and for the nine months ended:
9/30/16
9/30/15
Net Assets Applicable to Common Stock
$1,076,439,805
$1,080,883,111
Per Common Share
$39.98*
$37.48
Net Investment Income
$7,308,112
$9,640,985
Per Common Share
$0.27
$0.33
Net Gain (Loss) on Investments
$56,043,383
($78,365,005)
Per Common Share
$2.38
($2.33)
Dividends and Distributions to Preferred Stockholders
$8,483,979
$8,483,979
Per Common Share
$0.31
$0.29
Common Shares Outstanding
26,924,813
28,838,704
* After dividends and distributions of $1.25 per share paid to common stockholders in the aggregate in December 2015 and February 2016.
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.
General American Investors Company Inc. published this content on 26 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2016 21:16:01 UTC.
Original documenthttp://www.generalamericaninvestors.com/documents/news/2016_1026_NAVSep30.pdf
Public permalinkhttp://www.publicnow.com/view/6AB3232C08A5B404F4472F89D97F076796A6F5C3
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.