Le Lézard
Classified in: Covid-19 virus
Subjects: Stock Sale/Buyback, Closed End Fund

General American Investors Company Announces: Actions Taken by the Board of Directors


The Board of Directors of General American Investors Company, Inc., a closed-end investment company whose common and preferred shares are listed on the New York Stock Exchange (NYSE symbols - GAM and GAM Pr B, respectively), renewed authorization for the repurchase of 604,687 outstanding shares of 5.95% Cumulative Preferred Stock, Series B when the shares are trading at a market price below the liquidation preference of $25 per share. This is a renewal of the repurchase program originally authorized by the Board of Directors on December 10, 2008 for 1 million shares of Preferred Stock. To date, a total of 395,313 shares of Preferred Stock have been repurchased and retired. This program is separate from and in addition to the common stock repurchase program.

The Board of Directors also wishes to announce that the annual shareholder meeting will be held on April 20, 2022 for shareholders of record on February 11, 2022. Due to public health concerns pertaining to the coronavirus pandemic and/or related local, state and federal government regulations and recommendations, the Board of Directors also wishes to announce that in the event that the Annual Meeting cannot or should not be held at The Century Association, it would be appropriate to convene the Annual Meeting on such date and time at another location in the City of New York and virtually, by means of remote communication, or, in the event that the Annual Meeting cannot or should not be convened on such date and time in the City of New York, then solely by means of remote communication.

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. As of November 30, 2021, the Company had total net assets of approximately $1.2 billion applicable to its 23.8 million shares of common stock outstanding. The aggregate liquidation value of the Company's 7.6 million shares of 5.95% Cumulative Preferred Stock, Series B is $190.1 million.


These press releases may also interest you

6 déc 2022
Axon Enterprise, Inc. ("Axon") today announced the pricing of its private offering of $600 million aggregate principal amount of 0.50% Convertible Senior Notes due 2027 (the "Notes") to persons reasonably believed to be qualified institutional...

6 déc 2022
Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Veru Inc. ("Veru" or the "Company") in the United States Southern District Court of Florida on behalf of...

6 déc 2022
Allied Market Research published a report, titled, "Anticoccidial Drugs Market by Drug Class (Ionophore, Synthetic Drugs), by Drug Action (Coccidiostatic, Coccidiocidal), by Animal Type (Poultry, Cattle, Others): Global Opportunity Analysis...

6 déc 2022
The medical diagnostics market size is forecast to grow by USD 74.58 billion at a CAGR of 6.15% between 2022 and 2027. The growth of the market will be driven by the high prevalence of infectious diseases. Furthermore, the global adoption of advanced...

6 déc 2022
Brookfield Asset Management Inc. ("Brookfield") and Brookfield Asset Management Ltd. (the "Manager") today jointly announced the expected 2023 dividends for the Corporation (defined below) and the Manager. As previously announced, the transaction...

6 déc 2022
The Saudi Arabia ready mix cement market size is forecast to increase by USD 2.47 billion from 2022 to 2027, at a CAGR of 7.75%, according to the recent market study by Technavio. The growth of the market will be driven by the launch of Saudi Vision...



News published on 8 december 2021 at 16:40 and distributed by: