U.S. Global Investors Inc. operates as a registered investment advisory firm serving U.S. Global Investors Funds and U.S. Global ETFs. The company reports assets under management, advisory revenue, investment income, quarterly and annual results, webcast schedules and board-approved monthly dividends as recurring corporate updates.
Its communications also describe specialized fund strategies tied to niche markets, including gold and precious metals miners, airlines, energy producers, technology, aerospace and defense. Recurring product references include GOAU, JETS, WAR, USERX, UNWPX and the Global Resources Fund, along with the firm’s Smart Beta 2.0 investment discipline and corporate investments made for its own account.
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.
U.S. Global Investors, Inc. (GROW) held its annual shareholder meeting on June 15, 2022, in San Antonio, TX, where the company's strong performance was highlighted. CEO Frank Holmes reported that GROW has outperformed the Dow Jones U.S. Small Cap Asset Managers Index both year-to-date and over five years. The company increased its share repurchase program by 82% to $5 million, buying back over 32,000 shares in April and May 2022. Additionally, GROW maintains a monthly dividend of $0.0075, yielding 1.96% annually.
U.S. Global Investors, Inc. (GROW) announced its continued monthly dividend payment of $0.0075 for May 2022, authorized through June. The record date was May 9, with a payment date set for May 23. This dividend represents a 1.87% annualized yield based on the closing price of $4.81 on May 18. The Company has a history of over 12 years of consistent monthly dividends. Future dividend payments will be reviewed by the Board, subject to the Company’s financial performance and market conditions.
U.S. Global Investors (NASDAQ: GROW) reported a net loss of $846,000, or $0.06 per share, for Q1 2022, impacted by $4.5 million in unrealized losses on investments. Operating income decreased 14% to $2.5 million, with revenues of $6.2 million, down 2.8% year-over-year due to fluctuating performance fees. Average assets under management rose to $4.1 billion, maintaining previous quarter levels. The company launched the U.S. Global Sea to Sky Cargo ETF, which has outperformed the market. Cash and equivalents increased by 85.4% to $26.8 million, supporting growth strategies.
U.S. Global Investors (GROW) announced that its U.S. Global Jets ETF (JETS) is now available on Ameriprise Financial, reaching over 10,000 advisors managing $1.2 trillion. This comes as JETS holds $3.4 billion in assets. CEO Frank Holmes noted that demand for air travel is rebounding as mask mandates are lifted, potentially leading to profitability for airlines in 2022. Notably, United Airlines anticipates record sales in Q2 2022. A webcast to discuss financial results is scheduled for May 10, 2022.