U.S. Global Investors Continues GROW Dividends and Stock Repurchase Program
December 16 2013 - 5:59PM
Business Wire
U.S. Global Investors, Inc. (Nasdaq: GROW), a boutique
registered investment adviser specializing in natural resources and
emerging markets, will continue its payment of monthly dividends in
the first calendar quarter of 2014.
The company’s board of directors approved payment of the $0.005
per share per month dividend beginning in January 2014 and
continuing through March 2014. The record dates are January 13,
February 10 and March 10, and the payment dates will be January 27,
February 24 and March 24.
At the end of this period, the company will have paid monthly
dividends for more than six years. At the December 13, 2013,
closing price of $2.45, the $0.005 monthly dividend equals a 2.45
percent yield on an annualized basis.
The continuation of future cash dividends will be determined by
U.S. Global’s 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.
In addition to paying dividends, the board of directors of the
company has approved a continuation of the stock repurchase plan of
up to $2.75 million of its outstanding common stock from time to
time on the open market for the trading period from and including
January 2, 2014, through December 31, 2014.
Since the program began in January 2013 through September 30,
2013, the company has repurchased shares totaling 68,271 class A
shares using cash of $210,817. The company is using an algorithm to
purchase shares on down days, following the rules and regulations
that restrict the amounts and times when shares can be purchased on
any given day, such as at the opening of the day and in the last
half-hour of trading.
About U.S. Global Investors,
Inc.
U.S. Global Investors, Inc. (www.usfunds.com) is a registered
investment adviser that focuses on natural resources and emerging
markets companies located around the world. Headquartered in San
Antonio, Texas, the company provides advisory and other services to
U.S. Global Investors Funds and other clients.
With an average of $1.20 billion in assets under management in
the quarter ended September 30, 2013, U.S. Global Investors manages
domestic and offshore funds offering a variety of investment
options, from emerging markets to fixed income.
U.S. Global Investors, Inc.Susan Filyk, 210-308-1286Investor
Relationssfilyk@usfunds.com
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