U.S. Global Investors Provides Update on September’s Monthly Stock Buyback and Dividend Programs

Rhea-AI Summary

U.S. Global Investors, Inc. (GROW) announces an increase in its stock buyback program limit from $2.75 million to $5 million. In August 2022, the company repurchased 2,381 shares for approximately $9,380, significantly down from 4,330 shares the previous year due to reduced volatility. Additionally, a monthly dividend of $0.0075 per share continues through September 2022, providing a 2.47% annualized yield based on a $3.65 share price. Future dividends will depend on the company’s financial performance and other factors.

Positive

• Increased stock buyback program to $5 million enhances shareholder value.
• Monthly dividend yield of 2.47% demonstrates commitment to returning cash to shareholders.

Negative

• Repurchased shares in August 2022 were significantly lower than the previous year, indicating potential concerns over stock performance.

San Antonio, TX, Sept. 12, 2022 (GLOBE NEWSWIRE) -- 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.

To sign up for news and research on a variety of asset classes, from gold to airlines to cryptocurrencies, please click here.

Follow U.S. Global Investors on Twitter by clicking here.

Subscribe to U.S. Global Investors’ YouTube channel by clicking here.

# # #

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.

FAQ

What is the stock buyback amount for GROW in 2022?

U.S. Global Investors has increased its stock buyback program limit to $5 million for 2022.

What was the share price of GROW in August 2022?

The share price of GROW was $3.65 at the close on September 6, 2022.

What is the dividend amount for GROW in September 2022?

GROW has authorized a monthly dividend of $0.0075 per share for September 2022.

When is the payment date for the September 2022 dividend for GROW?

The payment date for the September 2022 dividend for GROW is September 26, 2022.