U.S. Global Investors Provides Update on September’s Monthly Stock Buyback and Dividend Programs
September 12 2022 - 10:25AM
U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a
registered investment advisory firm with longstanding experience in
global markets and specialized sectors, is pleased to provide an
update on its monthly stock repurchase and dividend programs.
Stock Repurchases
Earlier this year, the Company announced that it increased the
limit to its annual share buyback program, from $2.75 million to $5
million. The Company bought back 2,381 shares in August 2022, at a
net cost of approximately $9,380, down from 4,330 shares
repurchased in the same month a year earlier, at a net cost of
nearly $26,530. The reason for the decrease in the number of
repurchased shares is that the daily volatility was much less in
August 2022 than it was a year ago. The Company strategically
repurchases stock on down days using an algorithm.
Monthly Dividends
A monthly dividend of $0.0075 per share was authorized in June
2022 to continue through September 2022. August’s payment date was
August 22. September’s record date is September 12, and its payment
date will be September 26.
At the September 6, 2022, closing price of $3.65, the $0.0075
monthly dividend equals a 2.47% yield on an annualized basis.
The continuation of future cash dividends will be determined by
the 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.
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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 money management and other
services to U.S. Global Investors Funds and U.S. Global ETFs.
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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