San Antonio, Texas, Dec. 06, 2018 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, will continue its payment of monthly dividends in the third fiscal quarter of 2019.
The company’s board of directors approved payment of the $0.0025 per share per month dividend beginning in January 2019 and continuing through March 2019. The record dates are January 14, February 11 and March 11, and the payment dates will be January 28, February 25 and March 25.
At the end of this period, the company will have paid monthly dividends for more than 10 years. At the December 4, 2018, closing price of $1.13, the $0.0025 monthly dividend equals a 2.65 percent yield on an annualized basis.
The continuation of future cash dividends will be determined by U.S. Global’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.
U.S. Global Investors also announced it will continue the share repurchase program of up to $2.75 million of its outstanding Class A common stock from time to time on the open market for the trading period from and including January 1 through December 31, 2019. The share repurchase program may be suspended or discontinued at any time.
Since the program began in January 2013 through September 30, 2018, the company has repurchased a total of 541,235 class A shares using cash of $1,324,000. The company uses an algorithm to purchase shares on down days, following the rules and regulations that restrict the amounts and times when shares can be purchased on any given day, such as at the opening of the day and in the last half-hour of trading.
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, U.S. Global ETFs and other international clients.