U.S. Global Investors Provides Update on September’s Monthly Stock Buyback and Dividend Programs
San Antonio, TX, Sept. 12, 2022 (GLOBE NEWSWIRE) — U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, is pleased to provide an update on its monthly stock repurchase and dividend programs.
Stock Repurchases
Earlier this year, the Company announced that it increased the limit to its annual share buyback program, from $2.75 million to $5 million. The Company bought back 2,381 shares in August 2022, at a net cost of approximately $9,380, down from 4,330 shares repurchased in the same month a year earlier, at a net cost of nearly $26,530. The reason for the decrease in the number of repurchased shares is that the daily volatility was much less in August 2022 than it was a year ago. The Company strategically repurchases stock on down days using an algorithm.
Monthly Dividends
A monthly dividend of $0.0075 per share was authorized in June 2022 to continue through September 2022. August’s payment date was August 22. September’s record date is September 12, and its payment date will be September 26.
At the September 6, 2022, closing price of $3.65, the $0.0075 monthly dividend equals a 2.47% yield on an annualized basis.
The continuation of future cash dividends will be determined by the Board of Directors, at its sole discretion, after review of the company’s financial performance and other factors, and is dependent on earnings, operations, capital requirements, general financial condition of the company and general business conditions.
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About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides money management and other services to U.S. Global Investors Funds and U.S. Global ETFs.
CONTACT: Holly Schoenfeldt U.S. Global Investors, Inc. 210.308.1268 hschoenfeldt@usfunds.com
