General American Investors Files Certified Shareholder Report for Year Ended December 31, 2018
NEW YORK--(BUSINESS WIRE)--Feb 20, 2019--General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), filed with the U.S. Securities and Exchange Commission (SEC) its Certified Shareholder Report (Form N-CSR) for the year ended December 31, 2018. The Form N-CSR, which contains the Company’s 2018 Annual Report, is available at the SEC’s website: www.sec.gov and the Company’s website: www.generalamericaninvestors.com.
The 2018 Annual Report is also available on the Company’s website and the Proxy Statement, pertaining to the Company’s Annual Meeting of Stockholders to be held on April 24, 2019, is expected to be available on the website shortly.
The Annual Report indicates that as of and for the year ended:
The Company also reported that it purchased 1,227,947 shares of its outstanding common stock in the open market during 2018. The Board of Directors has authorized repurchasing common shares when they are trading at a discount in excess of 8%. The Company is also authorized to repurchase up to one million shares of its 5.95% Cumulative Preferred Stock, Series B (symbol GAM Pr B on NYSE) when they are trading at less than $25 per share. The aggregate liquidation value of the preferred stock is $190 million.
The five largest stock holdings in the Company’s portfolio at December 31, 2018 included: TJX Companies, Microsoft Corporation, Republic Services, Alphabet Inc., and Nestlé S.A.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190220005078/en/
CONTACT: Eugene S. Stark
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: General American Investors Company, Inc.
Copyright Business Wire 2019.
PUB: 02/20/2019 04:25 PM/DISC: 02/20/2019 04:26 PM