Quarterly Dividend on Preferred Stock
General American Investors Co., Inc.
New York, January, 19, 2005 -- On January 19, 2005, the Board of Directors of General American Investors Company declared on its 5.95% cumulative preferred stock, series B, a dividend of $0.371875 per share payable in cash on March 24, 2005 to holders of record on March 7, 2005. This quarterly distribution represents a payment for the accrual period from December 24, 2004 through March 23, 2005. Preferred shareholders will be informed in early 2006 of the portions of the distribution which represent long-term capital gains and ordinary income.
General American Investors (NYSE symbol GAM), a closed-end investment company 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. General American has total net assets of approximately $1.03 billion applicable to its 29.2 million shares of common stock outstanding. The aggregate liquidation value of the Company’s preferred stock is $200 million. Its preferred shares (symbol GAM Pr B) are also listed on the NYSE.
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