General American Investors Announces Preferred Stock Repurchase Authorization.

General American Investors Company announced that its Board of Directors renewed authorization for the repurchase of up to 1,601,553 shares of 5.95% Cumulative Preferred Stock, Series B at a market price below the liquidation preference of $25 per share. To date, 398,447 shares have been repurchased and retired. This program is separate from the common stock repurchase program. The Company has total net assets of approximately $1.5 billion and aims for long-term capital appreciation through investments in companies with above-average growth potential.