Business
U.S. Global Investors Provides July Updates on Its Stock Buyback and Dividend Programs
San Antonio, TX, July 29, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with
About this update from U.s. Global Investors, Inc.
[{"type":"text","content":"San Antonio, TX, July 29, 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 share updates on its stock buyback and dividend programs. In the month of July, the Company bought back 5,897 shares at a net cost of approximately $25,000. This represents a slight increase from the amount of GROW shares that were purchased in July 2021, suggesting there was less stock volatility this year compared to last year. The Company uses an independent broker that strategically repurchases stock on down days using an algorithm. The monthly dividend of $0.0075 is authorized through September 2022 and will be considered for continuation at that time by the Board. The July dividend record date was July 11, and the payment date was July 25. The Company has paid a monthly dividend for more than 12 years straight and increased its dividend twice in 2021. At the July 28, 2022, closing price of $4.23, the $0.0075 monthly dividend equals a 2.13% yield on an annualized basis. Upcoming ETF Webcast On August 10, the Company will host a webcast with ETF Trends on two of our unique thematic product offerings in the global travel and shipping industries. To receive further details and register for the event, please email [email protected] with the subject line “ETF webcast.” U.S. Global Investors Responds to Misleading Allegations The Company acknowledges that it has reviewed a July 19 press release that alleges that the Company did not disclose to shareholders its employment of a Company family member on three occasions between August 2012 and December 2021. This is a misleading accusation. The Company is aware of and in compliance with SEC §229.404 (Item 404), which requires a company to disclose a transaction in which the company was or is a participant, “and the amount involved exceeds $120,000, and in which any related person had or will have a direct or indirect material interest.” “Once again, the Company is not interested in any proposal that does not provide the Company shareholders the appropriate value for their securities. We don’t believe accepting a lowball bid would be in the best interest of shareholders. What is in their best interest is for us to maintain our strategy of raising our cash...