U.S. Global Investors announces update to $5M stock buyback program

U.S. Global Investors announced an update to the stock repurchase program, allowing for the orderly and systematic repurchase of up to $5M worth of the company’s common stock between September 13, 2024, and December 31, 2024. This represents 14% of the company’s market capitalization. This strategic move, combined with the ongoing monthly dividend program, reinforces the company’s dedication to delivering shareholder value through effective capital allocation and consistent returns, the company said in a statement. The company’s Board of Directors has approved the update to this buyback program as part of U.S. Global Investors’ strategy to return excess capital to shareholders, reflecting confidence in the company’s long-term growth prospects and financial health, it said. “We believe that repurchasing our shares at current levels offers a compelling opportunity to enhance shareholder value,” says Frank Holmes, CEO of U.S. Global Investors. The Board approved payment of the $0.0075 per share per month dividend beginning in October 2024 and continuing through December 2024. The record dates are October 14, November 11 and December 16, and the payment dates will be October 28, November 25 and December 30.