Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 Or 15(d) Of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 19, 2023

U.S. GLOBAL INVESTORS, INC.

(Exact name of registrant as specified in its charter)

Texas	0-13928	74-1598370
(State of other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

7900 Callaghan Road, San Antonio, Texas 78229

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: 210-308-1234

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, $0.25 par value per share	GROW	NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On December 19, 2023, U.S. Global Investors, Inc. issued a press release announcing the continuation of monthly GROW Dividends and provides update on Gold. A copy of the press release is attached and being furnished as Exhibit 99.1.

Item 9.01 — Financial Statement and Exhibits

(d) Exhibits

Exhibit 99.1 – Press Release issued by U.S. Global Investors, Inc. dated December 19, 2023.

Exhibit 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	U.S. Global Investors, Inc.


	By:	/s/ Lisa Callicotte
		Lisa Callicotte
		Chief Financial Officer

Dated: December 20, 2023

Exhibit 99.1

Contact:

Holly Schoenfeldt

Director of Marketing

210.308.1268

hschoenfeldt@usfunds.com

For Immediate Release

U.S. Global Investors Announces Continuation of Monthly GROW Dividends, Provides Update on Gold

******************************************************************************

SAN ANTONIO—December 19, 2023—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.

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.

“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.

Document And Entity Information	Dec. 19, 2023
Document Information [Line Items]
Entity, Registrant Name	U.S. GLOBAL INVESTORS, INC.
Document, Type	8-K
Document, Period End Date	Dec. 19, 2023
Entity, Incorporation, State or Country Code	TX
Entity, File Number	0-13928
Entity, Tax Identification Number	74-1598370
Entity, Address, Address Line One	7900 Callaghan Road
Entity, Address, City or Town	San Antonio
Entity, Address, State or Province	TX
Entity, Address, Postal Zip Code	78229
City Area Code	210
Local Phone Number	308-1234
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A common stock
Trading Symbol	GROW
Security Exchange Name	NASDAQ
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0000754811