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General American Investors Company Announces Action Taken by the Board of Directors

BusinessWire_EN 
0 0 25.01.24
General American Investors Company Announces Action Taken by the Board of Directors:
 

The Board of Directors authorized the repurchase of an additional 1,000,000 outstanding shares of common stock when the shares are trading at a discount from the underlying net asset value by at least 8%. This continues a repurchase program which began in March 1995. Through December 31, 2023, the Company has repurchased 32.5 million shares of common stock for a cost of $1 billion at an average discount of 14.1%.

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. The Company has total net assets of approximately $1.2 billion applicable to its 23.7 million shares of common stock outstanding as of December 31, 2023. The aggregate liquidation value of the Company’s preferred stock is $190 million (NYSE symbol – GAM Pr B).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240125479306/en/

General American Investors Stock

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