U.S. Global Investors rejects acquisition proposal, expands buyback to $5M, maintains dividend

U S GLOBAL INVESTORS INC

Board rejects Echo Lake and Deerhaven's unsolicited proposal, citing inadequate value for shareholders.
Annual buyback limit raised from $2.75M to $5M; Q2 repurchases: 45,696 shares for $219k (vs 17,155 for $125k in Q2 2021).
Monthly dividend of $0.0075/share continues through Sept 2022; record dates: July 11, Aug 8, Sept 12.
At $4.42 close, dividend yields 2.04% annualized; company building cash position for potential recession.
CEO Holmes: 'Cash is king' in bear market; GROW shares outperforming asset manager index YTD and 5-year.

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