General American Investors owns a selected portfolio of company stocks for long-term capital growth. Portfolio dividends bring some income, while stock selection and realized gains can have the larger influence on its annual cash payment.
Business
Equity CEF
Listing
GAM · New York Stock Exchange
Reporting period
2026-06-30
Dividend schedule
Annual
How the business works
Stock dividends after expenses become net investment income. Realized gains, losses and changing share values affect net asset value separately from that income line.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.24
Jan 1, 2026 to Jun 30, 2026
$0.00$0.24
Distribution yield9.74%Sourced distributions divided by dated market priceReported annual income yield0.60%Reported net investment income $0.3500 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $58.7300. Excludes capital gains; historical, not a current yield or forecast.Reported annual investment income$0.35Per share for 2025 FY. Excludes investment gains.Trailing 12-month distributions$6.40Recorded recurring payments per share, not a forecast
Dividend payment history
Date or month
Per share
Dec 26, 2025
$6.40
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
How to read GAM income
Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.
Watch dividend changes in the holdings and NAV over time. A high distribution rate does not guarantee stable capital.
The reported investment income is before payments to preferred shareholders. Those payments also draw on the fund, so this income figure is not the amount left to cover common-share distributions.
Income and distributions
Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Dividends received after fund expenses help explain recurring income. Realized gains and return of capital are separate sources of distributions.
Fund net investment income per common share; actual reporting period, not annualized$0.2400
$0.00$0.30
For the six months ended June 30, 2026, GAM reported $0.24 of net investment income and paid no distributions per share. Net asset value rose from $65.20 to $72.84. With no cash payment in the period, coverage is not applicable; the later annual distribution needs its own matching investment result.
Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 9.72%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
General American Investors Company, Inc. reported $0.2400 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in selected common stocks and the availability of realized capital gains can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
At the next full-year report, compare dividends, realized stock results and any cash paid with payment components and net asset value.
Net asset value (NAV)
NAV per share$73.60Sep 29, 2026Market price$63.74Sep 29, 2026PREMIUM / DISCOUNT TO NAV13.40% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
At the next full-year report, compare dividends, realized stock results and any cash paid with payment components and net asset value.
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U.S. federal · Tax year 2025
Dividend tax treatment
GAM classified most 2025 common-share distributions as capital gain, with a smaller qualified ordinary dividend and a little return of capital.
Ordinary, nonqualified
0%
Qualified dividends
6.85%
Capital-gain distributions
92.79%
Return of capital
0.36%
Tax year: 2025. Total distributions: $6.65 per share.
Tax details and source
Total ordinary dividends (includes qualified)
6.85%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
2026-01-16
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
