US global investors bought back a substantial share of their year-over-year shares in September and allow a monthly dividend through December
San Antonio, TX, Oct. 05, 2022 (GLOBE NEWSWIRE) — US Global Investors, Inc. (NASDAQ: GROWING UP) (the “Company”), a registered investment advisory firm with extensive experience in global markets and specialized sectors, is pleased to provide an update on its monthly stock buyback and dividend programs.
In September 2022, the Company repurchased 31,687 shares at an approximate net cost of $99,000. Compared to the same month last year, this represents an increase of approximately 670% in the number of shares and a 295% increase in net cost. For the quarter ended September 30, the Company repurchased just under 40,000 shares of GROW, an increase of 193% over the same quarter in 2021, at an approximate net cost of $133,400, or 63% of more than last year.
The company strategically buys back GROW stock on down days using an algorithm, and this September was the worst month for stocks overall since March 2020. We believe the company’s stock is undervalued, which makes buybacks an attractive opportunity in anticipation of a potential rebound.
A monthly dividend of $0.0075 per share was authorized in September 2022 through December 2022. Dividend record dates are October 10, November 14 and December 12, and pay dates are October 24. October, November 28 and December 27.
As of September 30, 2022, closing price of $2.87, the monthly dividend of $0.0075 equates to a yield of 3.14% on an annualized basis.
The maintenance of future cash dividends will be determined by the Board of Directors, in its sole discretion, after reviewing the financial performance of the Company and other factors, and depends on earnings, operations, capital requirements, the company’s general financial condition and business conditions.
ABC investment plan
The Company’s mutual fund ABC investment plan allows investors to start participating in the market at an affordable price and at their own pace. It only requires an initial investment of $1,000, followed by $100 per month, per fund.
It’s like being less than a latte at Starbucks every day. The company believes that the ABC investment plan might be suitable for young people at the start of the accumulation phase and other investors looking for a more affordable option that takes a lot of the guesswork out of market timing.
New account applicants can register for the ABC Investment Plan by by clicking here.
To sign up for news and research on a variety of asset classes, from gold to airlines to cryptocurrencies, please Click here.
Follow the United States around the world Investors on Twitter by by clicking here.
Subscribe to the US Global Investors YouTube channel bthere by clicking here.
# # #
About US Global Investors, Inc.
The history of US Global Investors dates back over 50 years when it began as an investment club. Today, US Global Investors, Inc. (usfunds.com) is a registered investment adviser focusing on niche markets around the world. Based in San Antonio, Texas, the company provides fund management and other services to US global investor funds and US global ETFs.
A regular investment program does not guarantee a profit or protect against losses in a declining market. You should weigh your ability to pursue such a program considering the possibility that you will have to redeem shares of the fund in times of falling stock prices as well as in times of rising prices.
Holdings may change daily. Holdings are reported at the end of the most recent quarter. The following securities mentioned in the press release were held by one or more accounts managed by US Global Investors as of 06/30/2022: Starbucks Corp.
Holly Schoenfeldt U.S. Global Investors, Inc. 210.308.1268 [email protected]