This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

General American Investors Files Certified Shareholder Report For Year Ended December 31, 2011

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, 2011. The Form N-CSR contains the Company’s 2011 Annual Report and is available at the SEC’s website: www.sec.gov and the Company’s website: www.generalamericaninvestors.com.

The 2011 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 11, 2012, is expected to be available on the website on February 15th, the record date for the annual meeting. Both the Annual Report and Proxy Statement are expected to be mailed to stockholders on or about February 22, 2012.

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

   

2011

   

2010

 
Net Assets Applicable to Common Stock $886,537,370 $950,940,936
Per Common Share $29.78* $31.26**
 
Net Investment Income $5,295,369 $5,626,730
Per Common Share $0.18 $0.19
 
Net Gain (Loss) on Investments ($23,392,211) $128,881,641
Per Common Share ($0.68) $4.37
 
Common Shares Outstanding 29,766,389 30,423,294
 
Dividends and Distributions to Common Shareholders $14,922,138 $13,000,098
Per Common Share $0.50 $0.43
 
Dividends and Distributions to Preferred Shareholders $11,311,972 $11,311,972
Per Common Share $0.38 $0.37
*   After dividend and distribution of $0.50 per share paid in December 2011.
** After dividend and distribution of $0.43 per share paid in December 2010.

The Company also reported that it purchased 935,321 shares of its outstanding common stock in the open market during 2011. 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs