U.S. Global Investors Shares Details of Its Annual Shareholder Meeting, Announces Continuation of GROW Dividends and Stock Repurchase in April-May
June 16 2022 - 4:10PM
U.S. Global Investors, Inc. (NASDAQ: GROW), a registered investment
advisory firm with longstanding experience in global markets and
specialized sectors, is pleased to provide details of its annual
shareholder meeting, which was held at the Company’s San Antonio
office on June 15, 2022.
“On behalf of everyone at U.S. Global Investors, I want to thank
shareholders for making the trip and attending today’s shareholder
meeting. I believe it went very well,” says Frank Holmes, the
Company’s CEO and Chief Investment Officer. “We showed that GROW
has significantly outperformed the index of publicly traded
small-cap asset managers for both the year-to-date and five-year
periods.”
“There were many questions about the Company’s stock buyback
policy. Earlier this year, we increased the limit to our annual
share repurchase program by 82%, from $2.75 million to $5 million.
I’m pleased to report that the Company bought back 15,544 shares in
April 2022 and 16,897 shares in May 2022, for a two-month total of
32,441. That represents a 134% increase over the 13,836 shares that
were purchased in the same two months in 2021. The Company
strategically repurchases stock on down days using an algorithm.
Going forward, we plan to report on our buybacks on a monthly
basis,” Mr. Holmes continues.
GROW Continues Monthly Dividends
Further, the Company raised its monthly dividend twice in 2021,
once in February and once in October. The monthly dividend of
$0.0075 is authorized through September 2022 and will be considered
for continuation at that time by the Board. The record dates are
June 13, July 11, August 8 and September 12, and the payment dates
will be June 27, July 25, August 22 and September 26.
At the June 15, 2022, closing price of $4.59, the $0.0075
monthly dividend equals a 1.96% yield on an annualized basis.
The continuation of future cash dividends will be determined by
the Company’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.
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 40 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.
# # # # #
The Dow Jones U.S. Small Cap Asset Managers Index is a market
cap-weighted index of publicly traded small-cap asset management
firms in the U.S.
- GROW Stock Outperforms Small Cap Asset Managers Index
Year-to-Date
- GROW Stock Outperforms Small Cap Assets Managers Index for
Five-Year Period
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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