Company News »

General American Investors Files Certified Shareholder Report for Year Ended December 31, 2014

Business Wire
Share on StockTwits
Published on

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, 2014. The Form N-CSR, which contains the Company’s 2014 Annual Report, is available at the SEC’s website: and the Company’s website:

The 2014 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 15, 2015, is expected to be available on the website shortly.

The Annual Report indicates that as of and for the year ended:

2014 2013
Net Assets Applicable to Common Stock $1,227,899,705 $1,229,469,746
Per Common Share $39.77* $41.07**
Net Investment Income $9,735,291 $5,228,019
Per Common Share $0.32 $0.17
Net Gain on Investments $74,113,391 $312,734,155
Per Common Share $2.39 $10.51
Common Shares Outstanding 30,871,844 29,939,568
Dividends and Distributions to Common Shareholders $103,126,586 $61,370,272
Per Common Share $3.50 $2.10
Dividends and Distributions to Preferred Shareholders $11,311,972 $11,311,972
Per Common Share $0.38 $0.39


After dividends and distributions of $3.50 per share paid in December 2014.


After dividends and distributions of $2.10 per share paid in December 2013.

The Company also reported that it purchased 541,367 shares of its outstanding common stock in the open market during 2014. 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 largest stock holdings in the Company’s portfolio at December 31, 2014 included: TJX Companies, Apple, Arch Capital, Costco and Republic Services.

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.

Share on StockTwits