General American Investors authorizes additional $2M share repurchase
General American Investors authorized the repurchase of an additional 2M 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 March 31, 2025, the company has repurchased 33.6 million shares of common stock for a cost of $1.1B at an average discount of 14.2%. Further, the Board declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on June 24 to holders of record on June 9. This quarterly dividend and distribution represents a payment for the accrual period from March 24 through June 23, 2025.
