VALUE LINE, INC. DECLARES A QUARTERLY CASH DIVIDEND OF $0.22 PER COMMON SHARE AND RENEWS STOCK REPURCHASE PROGRAM
16 Julio 2021 - 4:29PM
Value Line, Inc., (NASDAQ: VALU) announced today that its Board of
Directors declared on July 16, 2021, a quarterly cash dividend of
$0.22 per common share, payable on August 11, 2021, to stockholders
of record on July 26, 2021.
The Board of Directors also on July 16, 2021
approved a renewal of the share repurchase program, effective
immediately, allowing the repurchase of shares from time to time,
up to an aggregate amount of $2,000,000. The Company, under the
previous program, announced in April 2020, has purchased 58,880
shares and expended $1,686,324 of the authorized $2,000,000 initial
amount by July 2, 2021. The new repurchase program has no set price
limit and no expiration date.
"Based on the Company’s current financial
results, we believe that renewal of the repurchase program is in
the best interests of our shareholders," said Howard A. Brecher,
the Company's Chairman and Chief Executive Officer. The repurchases
will be made on the open market at prevailing market prices, in
negotiated transactions off the market, in block purchases or
otherwise.
The current yield of the Company’s common stock
is 2.84% based on an annualized dividend rate of $0.88 per share
and the June 30th closing price of $31.00.
The Company has 9,557,841 shares of common stock
outstanding as of July 2, 2021.
Value Line, Inc. is a leading New York based
provider of investment research. The Value Line Investment
Survey is one of the most widely used sources of
independent equity investment research. Value Line also publishes a
range of proprietary investment research in both print and digital
formats including research in the areas of Mutual Funds, ETFs and
Options. Value Line’s acclaimed research also enables the Company
to provide specialized products such as Value Line Select,
Value Line Special Situations, Value Line Select: ETFs, Value Line
Select: Dividend Income & Growth, The New Value Line ETFs
Service, The Value Line M & A Service, The Value Line
Information You Should Know Wealth Newsletter, Value Line Climate
Change Investing Service and certain Value Line
copyrights, distributed under agreements including certain
proprietary ranking system information and other proprietary
information used in third party products. Investment Advisory
services are provided through its substantial non-voting interests
in EULAV Asset Management, the investment advisor to The Value Line
Family of Mutual Funds. Value Line’s products are available to
individual investors by mail, at www.valueline.com or by calling
1-800-VALUELINE or 1-800-825-8354, while institutional-level
services for professional investors, advisers, corporate, academic,
and municipal libraries are offered at www.ValueLinePro.com,
www.ValueLineLibrary.com and by calling 1-800-531-1425.
Cautionary Statement Regarding
Forward-Looking Information
This report contains statements that are
predictive in nature, depend upon or refer to future events or
conditions (including certain projections and business trends)
accompanied by such phrases as “believe”, “estimate”, “expect”,
“anticipate”, “will”, “intend” and other similar or negative
expressions, that are “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995, as amended.
Actual results for Value Line, Inc. (“Value Line” or “the Company”)
may differ materially from those projected as a result of certain
risks and uncertainties, including but not limited to the
following:
- maintaining revenue from subscriptions for the Company’s
digital and print published products;
- changes in market and economic conditions, including global
financial issues;
- protecting intellectual property rights;
- dependence on non-voting revenues and non-voting profits
interests in EULAV Asset Management, a Delaware statutory trust
(“EAM” or “EAM Trust”), which serves as the investment advisor to
the Value Line Funds and engages in related distribution, marketing
and administrative services;
- fluctuations in EAM’s and third party copyright assets under
management due to broadly based changes in the values of equity and
debt securities, redemptions by investors and other factors;
- possible changes in the valuation of EAM’s intangible assets
from time to time;
- generating future revenues or collection of receivables from
significant customers;
- dependence on key personnel;
- competition in the fields of publishing, copyright and
investment management, along with associated effects on the level
and structure of prices and fees, and the mix of services
delivered;
- the impact of government regulation on the Company’s and EAM’s
businesses;
- availability of free or low cost investment data through
discount brokers or generally over the internet;
- terrorist attacks, cyber attacks and natural disasters;
- the coronavirus pandemic, which has drastically affected
markets, employment, and other economic conditions, and may have
additional unpredictable impacts on employees, suppliers,
customers, and operations;
- other possible epidemics;
- changes in prices of materials and other inputs required by the
Company;
- other risks and uncertainties, including but not limited to the
risks described in Item 1A,
“Risk Factors” of
the Company’s Annual Report on Form 10-K for the year ended April
30, 2020; and
• other risks and
uncertainties arising from time to time.
These factors are not necessarily all of the
important factors that could cause actual results to differ
materially from those expressed in any of our forward-looking
statements. Other unknown or unpredictable factors which may
involve external factors over which we may have no control or
changes in our plans, strategies, objectives, expectations or
intentions, which may happen at any time at our discretion, could
also have material adverse effects on future results. Except as
otherwise required to be disclosed in periodic reports required to
be filed by public companies with the SEC pursuant to the SEC's
rules, we have no duty to update these statements, and we undertake
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. In light of these risks and uncertainties, current
plans, anticipated actions, and future financial conditions and
results may differ from those expressed in any forward-looking
information contained herein.
Contact: Howard A. Brecher
Value Line, Inc.
212-907-1500
www.valueline.com
www.ValueLinePro.com, www.ValueLineLibrary.com
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