U.S. Global Investors Shares Details of Its Annual Shareholder Meeting, Announces Continuation of GROW Dividends and Stock Repurchase in April-May

Rhea-AI Summary

U.S. Global Investors, Inc. (GROW) held its annual shareholder meeting on June 15, 2022, in San Antonio, TX, where the company's strong performance was highlighted. CEO Frank Holmes reported that GROW has outperformed the Dow Jones U.S. Small Cap Asset Managers Index both year-to-date and over five years. The company increased its share repurchase program by 82% to $5 million, buying back over 32,000 shares in April and May 2022. Additionally, GROW maintains a monthly dividend of $0.0075, yielding 1.96% annually.

Positive

• GROW outperformed the Dow Jones U.S. Small Cap Asset Managers Index year-to-date and over five years.
• Increased share repurchase program by 82% to $5 million, buying back 32,441 shares in April and May 2022.
• Continued monthly dividend of $0.0075, equating to a 1.96% annual yield.

Negative

• None.

SAN ANTONIO, TX, June 16, 2022 (GLOBE NEWSWIRE) -- 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.

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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.

Attachments

• GROW Stock Outperforms Small Cap Asset Managers Index Year-to-Date
• GROW Stock Outperforms Small Cap Assets Managers Index for Five-Year Period

FAQ

What was discussed at the U.S. Global Investors annual shareholder meeting on June 15, 2022?

The meeting highlighted GROW's strong performance, including outperformance against the Dow Jones U.S. Small Cap Asset Managers Index.

What changes were made to the stock buyback policy for GROW in 2022?

The buyback limit was increased by 82% to $5 million, with 32,441 shares repurchased in April and May.

What is the current monthly dividend for GROW and its yield?

GROW maintains a monthly dividend of $0.0075, which yields 1.96% annually.

When are the record and payment dates for GROW's dividends?

Record dates are June 13, July 11, August 8, and September 12, with payment dates on June 27, July 25, August 22, and September 26.