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

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, 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.