San Antonio, TX, Feb. 10, 2023 (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, today is pleased to announce that it repurchased 75,612 of its own shares in January 2023, a new monthly record for the Company since it began its buyback program in 2013. The amount represents a roughly 64% increase in the number of shares it bought back in the previous month and a significant increase year-over-year.
The net cost of the Company’s share repurchase program in January 2023 was close to $230,000, also a new monthly record and a substantial increase from the previous month and the same month in 2022.
The increase is a result of the Board of Directors’ (the “Board”) decision in December 2022 to modify the Company’s buyback algorithm. The Company may now buy back shares of GROW stock when the price is flat or down from the previous trading day.
Continuation of Monthly Dividends
The Company will continue its monthly dividend payment of $0.0075 per share for the quarter ended March 2023. The record dates are February 13 and March 13, and the payment dates are February 27 and March 27.
The Company has paid a monthly dividend since June 2007 and increased it twice in 2021. At the February 8, 2023, closing price of $3.12, the $0.0075 monthly dividend equals a 2.88% yield on an annualized basis.
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 investment advisory services to U.S. Global Investors Funds and U.S. Global ETFs.
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