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0000754811
0000754811
2023-12-19
2023-12-19
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 Or 15(d) Of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 19, 2023
U.S. GLOBAL INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Texas
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0-13928
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74-1598370
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(State of other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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7900 Callaghan Road, San Antonio, Texas 78229
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 210-308-1234
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Class A common stock, $0.25 par value per share
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GROW
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NASDAQ Capital Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 19, 2023, U.S. Global Investors, Inc. issued a press release announcing the continuation of monthly GROW Dividends and provides update on Gold. A copy of the press release is attached and being furnished as Exhibit 99.1.
Item 9.01 — Financial Statement and Exhibits
(d) Exhibits
Exhibit 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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U.S. Global Investors, Inc.
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By:
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/s/ Lisa Callicotte
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Lisa Callicotte
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Chief Financial Officer
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Dated: December 20, 2023
Exhibit 99.1
Contact:
Holly Schoenfeldt
Director of Marketing
210.308.1268
hschoenfeldt@usfunds.com
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For Immediate Release
U.S. Global Investors Announces Continuation of Monthly GROW Dividends, Provides Update on Gold
******************************************************************************
SAN ANTONIO—December 19, 2023—U.S. Global Investors, Inc. (NASDAQ: GROW), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, is pleased to announce that it will continue its payment of monthly dividends.
The Company’s Board of Directors (the “Board”) approved payment of the $0.0075 per share per month dividend beginning in January 2024 and continuing through March 2024. The record dates are January 8, February 12 and March 11, and the payment dates will be January 22, February 26 and March 25.
At the December 15, closing price of $2.79, the $0.0075 monthly dividend equals a 3.23% yield on an annualized basis. For the 12 months ended September 30, 2023, the Company’s shareholder yield was 6.84%, which was higher than the yield on the 10-year Treasury that same day.1
Gold's Surge Above $2,000 an Ounce as Interest Rates Fall
The Company would also like to take this opportunity to note the positive performance of gold, an important asset to many of the Company’s investments.
“Earlier this month, the yellow metal recorded a new all-time high intraday price of $2,146 per ounce on geopolitical tensions and growing hopes that the Federal Reserve is done hiking rates and will soon begin easing. As of December 18, 2023, gold was trading above its 50-day moving average, which we consider to be a bullish signal and which many trend investors follow,” says Frank Holmes, the Company’s CEO and Chief Investment Officer.
1 The Company computes shareholder yield by adding the percentage of change in shares outstanding to the dividend yield for the 12 months ending September 30, 2023. The Company did not have debt; therefore, no debt reduction was included.
“As many readers are aware, the price of gold has historically shared an inverse relationship with Treasury yields. The yield on the 10-year Treasury note, now below its 200-day moving average, has decreased to approximately 3.9%, down from a multiyear high of approximately 5% observed in October. This decline is attributed to the ongoing decrease in the annual inflation rate and the increased probability that the Fed will begin reducing short-term interest rates instead of raising them.”
To sign up for news and research on a variety of asset classes, from gold to airlines to digital assets, please click here.
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 and other services to U.S. Global Investors Funds and U.S. Global ETFs.
# # #
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. The shareholder yield is a ratio that shows how much money the company is sending back to shareholders through a combination of dividends and share repurchases.
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Dec. 19, 2023 |
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Entity, Registrant Name |
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Dec. 19, 2023
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TX
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Entity, File Number |
0-13928
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Entity, Tax Identification Number |
74-1598370
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Entity, Address, Address Line One |
7900 Callaghan Road
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Entity, Address, City or Town |
San Antonio
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Entity, Address, State or Province |
TX
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78229
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