Welcome to our dedicated page for US Global Invstr news (Ticker: GROW), a resource for investors and traders seeking the latest updates and insights on US Global Invstr stock.
U.S. Global Investors, Inc. (NASDAQ: GROW) is a San Antonio, Texas-based registered investment adviser that regularly issues news and updates about its specialized investment strategies and financial performance. This news page aggregates company press releases and third-party coverage related to its role as adviser to U.S. Global Investors Funds and U.S. Global ETFs.
Readers can find announcements on earnings and results of operations, which the company also furnishes to the U.S. Securities and Exchange Commission via Form 8-K. These releases discuss topics such as changes in assets under management, investment income, operating revenues, shareholder yield, liquidity and capital resources. The company also reports on Board-approved monthly dividends and activity under its share repurchase program.
News items highlight sector-focused ETFs for which U.S. Global Investors serves as investment adviser. Examples include the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), the U.S. Global Jets ETF (JETS), the U.S. Global Technology and Aerospace & Defense ETF (WAR) and the U.S. Global Sea to Sky Cargo ETF (SEA). Articles describe how these funds apply Smart Beta 2.0 or active management approaches to areas such as gold and precious metals, airlines, defense and technology, and global shipping and air freight.
Company communications also cover developments like GOAU’s transition from passive indexing to active management, international listings of ETFs on exchanges in Mexico and Colombia, and thematic commentary on gold, airlines, defense spending and the so‑called Fear Trade. In addition, U.S. Global Investors occasionally publishes news about community initiatives, such as its partnership with Keystone School to support a Model United Nations program.
Investors and researchers can use this page to review historical and recent news on GROW, including dividend declarations, ETF milestones, webcast announcements and sector commentary directly from U.S. Global Investors.
U.S. Global Investors (GROW) announced significant share repurchases in October 2022, buying back 16,426 shares for approximately $47,000, marking a 744% increase from the previous year. This buyback is part of an increased program limit from $2.75 million to $5 million per year, aiming to capitalize on perceived undervaluation. Additionally, the company confirmed a monthly dividend of $0.0075 per share, reflecting a 3.10% annual yield based on the October 31 closing price of $2.90. Future dividends will depend on financial performance and board discretion.
U.S. Global Investors (NASDAQ: GROW) shared its participation in upcoming events as part of its corporate communications. The Company is set to present at the IMPACT 2022 conference from November 1 in Denver, highlighting its mutual funds and ETFs, including the U.S. Global Jets ETF. Additionally, a webinar on December 12 will delve into the investment case for the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU). Despite the current pressure on gold prices, demand for gold coins is strong, with U.S. Mint sales hitting a 22-year high, indicating robust investor interest.
U.S. Global Investors, Inc. (GROW) announced an amendment to its dividend schedule, adjusting the record date for October to October 17 and the payment date to October 31. The dividend dates for November and December remain unchanged, with record dates set for November 14 and December 12, and payment on November 28 and December 27. The Board of Directors will determine future dividends based on financial performance and other critical factors.
U.S. Global Investors, Inc. (GROW) announced significant developments in its stock repurchase and dividend programs. In September 2022, the company repurchased 31,687 shares for approximately $99,000, marking a 670% increase year-over-year. The quarterly buyback totaled just under 40,000 shares, a 193% rise from 2021. A monthly dividend of $0.0075 per share was authorized, yielding 3.14% annually based on the September 30 closing price of $2.87. These strategic moves reflect the company's belief in the undervaluation of its stock amid a challenging market environment.
U.S. Global Investors, Inc. (GROW) announces an increase in its stock buyback program limit from $2.75 million to $5 million. In August 2022, the company repurchased 2,381 shares for approximately $9,380, significantly down from 4,330 shares the previous year due to reduced volatility. Additionally, a monthly dividend of $0.0075 per share continues through September 2022, providing a 2.47% annualized yield based on a $3.65 share price. Future dividends will depend on the company’s financial performance and other factors.
U.S. Global Investors (NASDAQ: GROW) reported a fiscal year ending June 30, 2022, with total operating revenues of $24.7 million, a 14% increase YOY. Operating income rose to $11.1 million, a 36% increase, and operating margin improved to 45%. However, net income fell to $5.5 million or $0.37 per share, down significantly from $32 million or $2.12 per share a year prior, primarily due to mark-to-market volatility. Average assets under management were $3.9 billion, while total AUM declined to $2.9 billion.
U.S. Global Investors (GROW) announced a buyback of 5,897 shares for approximately $25,000 in July 2022, reflecting reduced stock volatility compared to the previous year. The monthly dividend of $0.0075, yielding 2.13% annually, is authorized through September 2022. The company emphasizes its focus on maintaining cash levels amidst economic uncertainty, which positions it to potentially acquire other investment advisors. Additionally, GROW has consistently outperformed the Dow Jones U.S. Small Cap Asset Managers Index over several timeframes.
Echo Lake Capital and Deerhaven Capital have raised serious concerns regarding Frank Holmes, CEO of U.S. Global Investors (NASDAQ:GROW), over allegations of nepotism. They claim Holmes hired his son, Nigel Holmes, on three occasions without disclosure to shareholders, potentially violating securities laws. The letter criticizes this lack of transparency and questions whether the company's board acts in the best interests of all shareholders. The Authors highlight that Holmes' actions may have negatively impacted employee morale and shareholder confidence.
U.S. Global Investors (NASDAQ: GROW) has expanded its annual buyback program from $2.75 million to $5 million, repurchasing 13,255 shares in June 2022 at a cost of approximately $59,000. This is a notable increase from last year's 3,319 shares. For Q2 2022, total buybacks reached 45,696 shares for $219,000, compared to 17,155 shares for $125,000 in Q2 2021. The monthly dividend remains at $0.0075, yielding 2.04% annually as of June 30, 2022, with payments set for July, August, and September. The company is also building cash reserves in anticipation of a recession.
Echo Lake Capital and Deerhaven Capital have proposed to acquire all outstanding class A shares of U.S. Global Investors (GROW) at a price of $5.30 per share, representing a 20% premium over the closing price on June 24, 2022. This proposal aims to provide immediate value to shareholders amidst challenges faced by the micro-cap company, such as limited analyst coverage and trading volume. The deal includes cash and newly issued preferred stock, contingent on specific financial conditions. A response is requested by July 8, 2022.