U.S. Global Investors Repurchased Substantially More of Its Stock Year-over-Year in September, Authorizes Monthly Dividend Through December
SAN ANTONIO—October 5, 2022—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.
In September 2022, the Company bought back 31,687 shares at an approximate net cost of $99,000. Compared to the same month last year, this represents an approximately 670% increase in the number of shares and 295% increase in the net cost. For the quarter ended September 30, the Company repurchased just under 40,000 shares of GROW stock, a 193% increase from the same quarter in 2021, at an approximate net cost of $133,400, or 63% more than last year.
The Company strategically repurchases GROW stock on down days using an algorithm, and this September was the worst month for stocks in general since March 2020. We believe that the Company’s stock is undervalued, making the buybacks an attractive opportunity in anticipation of a potential rebound.
A monthly dividend of $0.0075 per share was authorized in September 2022 to continue through December 2022. The dividend record dates are October 10, November 14 and December 12, and the payment dates are October 24, November 28 and December 27.
At the September 30, 2022, closing price of $2.87, the $0.0075 monthly dividend equals a 3.14% 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.
ABC Investment Plan
The Company’s mutual fund ABC Investment Plan allows investors to start participating in the market affordably and at their own pace. It requires only an initial investment of $1,000, followed by $100 per month, per fund.
That comes out to being less than a latte at Starbucks every day. The Company believes the ABC Investment Plan could be suitable for young people at the start of the accumulation phase and other investors seeking a more affordable option that takes out a lot of the guesswork in market timing.
New account applicants can enroll in the ABC Investment Plan by clicking here.
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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.
A program of regular investing doesn’t assure a profit or protect against loss in a declining market. You should evaluate your ability to continue in such a program in view of the possibility that you may have to redeem fund shares in periods of declining share prices as well as in periods of rising prices.
Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the press release were held by one or more accounts managed by U.S. Global Investors as of 6/30/2022: Starbucks Corp.
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