NEW YORK--(BUSINESS WIRE)--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:
|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.