U.S. Global Investors Posts 12% Q2 AUM Growth and $0.0075 Monthly Dividend
U.S. Global Investors ended fiscal Q2 with $1.5 billion in assets under management, up 12% sequentially and 5% year-over-year. Operating revenue rose 11.5% quarter-over-quarter to boost pre-tax income to $535,000, and the board approved a $0.0075 per share monthly dividend for January through March.
1. Q2 Fiscal 2026 Financial Results
For the quarter ended December 31, 2025, assets under management reached approximately $1.5 billion, marking a 12% increase from the prior quarter and a 5% rise year-over-year. Operating revenue climbed by $259,000 (11.5%) quarter-over-quarter, expenses declined by $172,000 year-over-year, and income before taxes turned positive at $535,000.
2. Tax Expense and Accounting Method Change
The company recorded a $1.3 million tax expense related to the treatment of HIVE convertible securities, offset by an expected $1.3 million benefit in the March quarter. After quarter-end, a tax accounting method change was filed with the IRS, subject to review, which could further adjust the effective tax rate.
3. Shareholder Yield and Return Initiatives
Shareholder yield stood at 9.89% as of December 31, 2025, more than double comparable Treasury yields. The board approved a $0.0075 per share monthly dividend for January through March 2026 and authorized up to $5 million in annual share repurchases, executing 262,195 shares in the December quarter.
4. Liquidity and Capital Resources
As of December 31, 2025, net working capital was approximately $36.7 million, including $25.2 million in cash and equivalents, providing ample liquidity to support ongoing operations and investments.