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U.S. Global Investors Provides July Updates on Its Stock Buyback and Dividend Programs

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GROW vs. the Dow Jones U.S. Small Cap Asset Managers Index

Percent Change, Year-to-Date Through July 29, 2022
Percent Change, Year-to-Date Through July 29, 2022

GROW vs. the Dow Jones U.S. Small Cap Asset Managers Index

Percent Change, 10-Year Period Through July 29, 2022
Percent Change, 10-Year Period Through July 29, 2022

San Antonio, TX, July 29, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, is pleased to share updates on its stock buyback and dividend programs.

In the month of July, the Company bought back 5,897 shares at a net cost of approximately $25,000. This represents a slight increase from the amount of GROW shares that were purchased in July 2021, suggesting there was less stock volatility this year compared to last year. The Company uses an independent broker that strategically repurchases stock on down days using an algorithm.

The monthly dividend of $0.0075 is authorized through September 2022 and will be considered for continuation at that time by the Board. The July dividend record date was July 11, and the payment date was July 25.

The Company has paid a monthly dividend for more than 12 years straight and increased its dividend twice in 2021. At the July 28, 2022, closing price of $4.23, the $0.0075 monthly dividend equals a 2.13% yield on an annualized basis.

Upcoming ETF Webcast

On August 10, the Company will host a webcast with ETF Trends on two of our unique thematic product offerings in the global travel and shipping industries. To receive further details and register for the event, please email info@usfunds.com with the subject line “ETF webcast.”

U.S. Global Investors Responds to Misleading Allegations

The Company acknowledges that it has reviewed a July 19 press release that alleges that the Company did not disclose to shareholders its employment of a Company family member on three occasions between August 2012 and December 2021.

This is a misleading accusation. The Company is aware of and in compliance with SEC §229.404 (Item 404), which requires a company to disclose a transaction in which the company was or is a participant, “and the amount involved exceeds $120,000, and in which any related person had or will have a direct or indirect material interest.”

“Once again, the Company is not interested in any proposal that does not provide the Company shareholders the appropriate value for their securities. We don’t believe accepting a lowball bid would be in the best interest of shareholders. What is in their best interest is for us to maintain our strategy of raising our cash levels, paying monthly dividends and repurchasing shares on down days,” says Chief Executive Officer Frank Holmes.

GROW Stock Continues to Outperform, Building Our Cash Levels for Resilience in a Rising Interest Rate World

In the last press release, the Company shared two charts showing that shares of GROW outperformed an index of asset managers for the year-to-date period as of June 24 and five-year period. The Company is pleased to share the news that GROW stock has also outperformed the Dow Jones U.S. Small Cap Asset Managers Index for the year-to-date, three-year, five-year and 10-year periods through July 29, 2022.

“On a final note, a recent McKinsey & Company report states that companies can build resilience to weather an economic downturn by maintaining a strong balance sheet and keeping ample cash on hand,” Mr. Holmes says. “We agree, and we will continue to build our cash for two key reasons. One, fears of a recession are looming over the capital markets, and two, this will put us in a better position to acquire other investment advisors.”

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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 and U.S. Global ETFs.

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The continuation of future cash dividends will be determined by the Board, 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 Dow Jones U.S. Small Cap Asset Managers Index is a market cap-weighted index of publicly traded small-cap asset management firms in the U.S.

Attachments

CONTACT: Holly Schoenfeldt U.S. Global Investors, Inc. 210.308.1268 hschoenfeldt@usfunds.com