U.S. Global Investors Continues GROW Dividends and Share Repurchase Program
December 06 2018 - 4:00PM
U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered
investment advisory firm with longstanding experience in global
markets and specialized sectors, will continue its payment of
monthly dividends in the third fiscal quarter of 2019.
The company’s board of directors approved payment of the $0.0025
per share per month dividend beginning in January 2019 and
continuing through March 2019. The record dates are January 14,
February 11 and March 11, and the payment dates will be January 28,
February 25 and March 25.
At the end of this period, the company will have paid monthly
dividends for more than 10 years. At the December 4, 2018, closing
price of $1.13, the $0.0025 monthly dividend equals a 2.65 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.
U.S. Global Investors also announced it will continue the share
repurchase program of up to $2.75 million of its outstanding Class
A common stock from time to time on the open market for the trading
period from and including January 1 through December 31, 2019. The
share repurchase program may be suspended or discontinued at any
time.
Since the program began in January 2013 through September 30,
2018, the company has repurchased a total of 541,235 class A shares
using cash of $1,324,000. The company uses 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.
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, U.S. Global ETFs and other
international clients.
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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