U.S. Global Investors Announces Continuation of Monthly GROW Dividends, Provides Update on Gold
December 19 2023 - 3:00PM
U.S. Global Investors, Inc. (NASDAQ: GROW), a registered
investment advisory firm with longstanding experience in global
markets and specialized sectors, is pleased to announce that it
will continue its payment of monthly dividends.
The Company’s Board of Directors (the “Board”) approved payment
of the $0.0075 per share per month dividend beginning in January
2024 and continuing through March 2024. The record dates are
January 8, February 12 and March 11, and the payment dates will be
January 22, February 26 and March 25.
At the December 15, closing price of $2.79, the $0.0075 monthly
dividend equals a 3.23% yield on an annualized basis. For the 12
months ended September 30, 2023, the Company’s shareholder yield
was 6.84%, which was higher than the yield on the 10-year Treasury
that same day.[1]
Gold's Surge Above $2,000 an Ounce as Interest Rates
Fall
The Company would also like to take this opportunity to note the
positive performance of gold, an important asset to many of the
Company’s investments.
“Earlier this month, the yellow metal recorded a new all-time
high intraday price of $2,146 per ounce on geopolitical tensions
and growing hopes that the Federal Reserve is done hiking rates and
will soon begin easing. As of December 18, 2023, gold was trading
above its 50-day moving average, which we consider to be a bullish
signal and which many trend investors follow,” says Frank Holmes,
the Company’s CEO and Chief Investment Officer.
“As many readers are aware, the price of gold has historically
shared an inverse relationship with Treasury yields. The yield
on the 10-year Treasury note, now below its 200-day moving average,
has decreased to approximately 3.9%, down from a multiyear high of
approximately 5% observed in October. This decline is attributed to
the ongoing decrease in the annual inflation rate and the increased
probability that the Fed will begin reducing short-term interest
rates instead of raising them.”
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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 investment advisory and other services
to U.S. Global Investors Funds and U.S. Global ETFs.
# # #
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. The shareholder yield is a ratio that shows how much
money the company is sending back to shareholders through a
combination of dividends and share repurchases.
[1] The Company computes shareholder yield by adding the
percentage of change in shares outstanding to the dividend yield
for the 12 months ending September 30, 2023. The Company did not
have debt; therefore, no debt reduction was included.
- Gold Price on an Upward Trajectory as Treasury Yields Fell
Below Key Moving Average
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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