Declared Dividend • Aug 10
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 20th August 2026 Payment date: 3rd September 2026 Dividend yield will be 5.9%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Aug 07
Third quarter 2026 earnings released: EPS: US$0.25 (vs US$0.27 in 3Q 2025) Third quarter 2026 results: EPS: US$0.25 (down from US$0.27 in 3Q 2025). Revenue: US$8.39m (up 4.2% from 3Q 2025). Net income: US$2.00m (down 5.8% from 3Q 2025). Profit margin: 24% (down from 26% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Aug 06
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on September 3, 2026 Hennessy Advisors, Inc. declared a quarterly dividend of $0.15 per share to be paid on September 3, 2026, to shareholders of record as of August 20, 2026. The dividend represents an annualized yield of 6.1%. Declared Dividend • May 20
Second quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 21st May 2026 Payment date: 4th June 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 2.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • May 20
CFO & Senior VP recently sold US$100k worth of stock On the 11th of May, Kathryn Fahy sold around 10k shares on-market at roughly US$10.00 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kathryn's only on-market trade for the last 12 months. Announcement • May 08
Hennessy Advisors, Inc. announces Quarterly dividend, payable on June 04, 2026 Hennessy Advisors, Inc. announced Quarterly dividend of USD 0.1500 per share payable on June 04, 2026, ex-date on May 21, 2026 and record date on May 21, 2026. Announcement • Feb 06
Hennessy Advisors, Inc. Declares Quarterly Dividend, Payable on March 4, 2026 The Board of Directors of Hennessy Advisors, Inc. also declared a quarterly dividend of $0.15 per share, a 9% increase, which will be paid on March 4, 2026, to shareholders of record as of February 18, 2026. This represents an annualized dividend yield of 5.9%, based on a closing price of $10.15 on February 4, 2026. Announcement • Dec 11
Hennessy Advisors, Inc., Annual General Meeting, Feb 05, 2026 Hennessy Advisors, Inc., Annual General Meeting, Feb 05, 2026. Location: perrys 225 alameda del prado, ca 94949, novato United States Announcement • Oct 30
Hennessy Advisors, Inc. Announces Dividend, Payable on November 26, 2025 The Board of Directors of Hennessy Advisors, Inc. declared a quarterly dividend of $0.1375 per share, which represents an annualized dividend yield of 5.77%. Dividend payment, which will be made on November 26, 2025, to shareholders of record as of November 12, 2025. Announcement • Aug 07
Hennessy Advisors, Inc. Declares Quarterly Dividend, Payable on September 4, 2025 Hennessy Advisors, Inc. declared a quarterly dividend of $0.1375 per share to be paid on September 4, 2025, to shareholders of record as of August 20, 2025. Announcement • May 08
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on June 4, 2025 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on June 4, 2025, to shareholders of record as of May 20, 2025, which represents an annualized dividend yield of 5.2%. Announcement • Feb 14
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on March 6, 2025 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on March 6, 2025, to shareholders of record as of February 24, 2025, which represents an annualized dividend yield of 4.6%. Announcement • Dec 20
Hennessy Advisors, Inc., Annual General Meeting, Feb 13, 2025 Hennessy Advisors, Inc., Annual General Meeting, Feb 13, 2025. Location: inn marin, 250 entrada drive, california 94949, novato United States Announcement • Oct 31
Hennessy Advisors, Inc. Declares A Quarterly Dividend, Payable on November 27, 2024 The Board of Directors of Hennessy Advisors, Inc. declared a quarterly dividend of $0.1375 per share to be paid on November 27, 2024, to shareholders of record as of November 14, 2024, which represents an annualized dividend yield of 5.28%. Announcement • Aug 09
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on September 5, 2024 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on September 5, 2024, to shareholders of record as of August 22, 2024, which represents an annualized dividend yield of 6.6%. Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 11% to US$7.25. The fair value is estimated to be US$9.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 20%. Declared Dividend • May 12
Second quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 21st May 2024 Payment date: 5th June 2024 Dividend yield will be 7.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 10% to shift the payout ratio to a potentially unsustainable range, which is less than the 17% EPS decline seen over the last 5 years. Reported Earnings • May 09
Second quarter 2024 earnings released: EPS: US$0.20 (vs US$0.16 in 2Q 2023) Second quarter 2024 results: EPS: US$0.20 (up from US$0.16 in 2Q 2023). Revenue: US$6.94m (up 17% from 2Q 2023). Net income: US$1.54m (up 29% from 2Q 2023). Profit margin: 22% (up from 20% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • May 09
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on June 5, 2024 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on June 5, 2024, to shareholders of record as of May 22, 2024, which represents an annualized dividend yield of 8.3%. Declared Dividend • Feb 13
First quarter dividend of US$0.14 announced Dividend of US$0.14 is the same as last year. Ex-date: 16th February 2024 Payment date: 4th March 2024 Dividend yield will be 8.4%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 4.6% to shift the payout ratio to a potentially unsustainable range, which is less than the 20% EPS decline seen over the last 5 years. Reported Earnings • Feb 10
First quarter 2024 earnings released: EPS: US$0.16 (vs US$0.15 in 1Q 2023) First quarter 2024 results: EPS: US$0.16 (up from US$0.15 in 1Q 2023). Revenue: US$6.14m (flat on 1Q 2023). Net income: US$1.20m (up 7.2% from 1Q 2023). Profit margin: 20% (up from 18% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Feb 09
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on March 4, 2024 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on March 4, 2024, to shareholders of record as of February 20, 2024, which represents an annualized dividend yield of 8.3%. Announcement • Dec 15
Hennessy Advisors, Inc., Annual General Meeting, Feb 08, 2024 Hennessy Advisors, Inc., Annual General Meeting, Feb 08, 2024, at 18:30 Pacific Standard Time. Location: StoneTree Golf Club 9 StoneTree Lane Novato California United States Agenda: To elect all director nominees named in the proxy statement; to approve the Hennessy Advisors, Inc. 2024 Omnibus Incentive Plan; to ratify the selection of Marcum LLP as our independent registered public accounting firm for fiscal year 2024; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof. Reported Earnings • Dec 08
Full year 2023 earnings released: EPS: US$0.63 (vs US$0.83 in FY 2022) Full year 2023 results: EPS: US$0.63 (down from US$0.83 in FY 2022). Revenue: US$24.0m (down 19% from FY 2022). Net income: US$4.77m (down 23% from FY 2022). Profit margin: 20% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Nov 03
Upcoming dividend of US$0.14 per share at 8.3% yield Eligible shareholders must have bought the stock before 10 November 2023. Payment date: 27 November 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 8.3%. Within top quartile of American dividend payers (5.3%). Higher than average of industry peers (3.0%). Announcement • Oct 27
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on November 27, 2023 The Board of Directors of Hennessy Advisors, Inc. declared a quarterly dividend of $0.1375 per share to be paid on November 27, 2023, to shareholders of record as of November 13, 2023, which represents an annualized dividend yield of 8.47%. Upcoming Dividend • Aug 15
Upcoming dividend of US$0.14 per share at 7.8% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 06 September 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 7.8%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 03
Third quarter 2023 earnings released: EPS: US$0.15 (vs US$0.17 in 3Q 2022) Third quarter 2023 results: EPS: US$0.15 (down from US$0.17 in 3Q 2022). Revenue: US$5.70m (down 18% from 3Q 2022). Net income: US$1.12m (down 14% from 3Q 2022). Profit margin: 20% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Aug 03
Hennessy Advisors, Inc. Declares Quarterly Cash Dividend, Payable on September 6, 2023 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on September 6, 2023, to shareholders of record as of August 23, 2023. Recent Insider Transactions • Jun 02
Chairman & CEO recently bought US$51k worth of stock On the 24th of May, Neil Hennessy bought around 8k shares on-market at roughly US$6.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$83k. Neil has been a buyer over the last 12 months, purchasing a net total of US$155k worth in shares. Recent Insider Transactions • May 26
Chairman & CEO recently bought US$83k worth of stock On the 22nd of May, Neil Hennessy bought around 12k shares on-market at roughly US$6.90 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Neil's only on-market trade for the last 12 months. Upcoming Dividend • May 15
Upcoming dividend of US$0.14 per share at 7.9% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 05 June 2023. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 7.9%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (2.9%). Reported Earnings • May 11
Second quarter 2023 earnings released: EPS: US$0.16 (vs US$0.21 in 2Q 2022) Second quarter 2023 results: EPS: US$0.16 (down from US$0.21 in 2Q 2022). Revenue: US$5.92m (down 24% from 2Q 2022). Net income: US$1.20m (down 25% from 2Q 2022). Profit margin: 20% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Feb 10
First quarter 2023 earnings released: EPS: US$0.15 (vs US$0.26 in 1Q 2022) First quarter 2023 results: EPS: US$0.15 (down from US$0.26 in 1Q 2022). Revenue: US$6.15m (down 28% from 1Q 2022). Net income: US$1.12m (down 42% from 1Q 2022). Profit margin: 18% (down from 22% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Feb 10
Hennessy Advisors, Inc. Declares Quarterly Dividend, Payable on March 6, 2023 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on March 6, 2023, to shareholders of record as of February 21, 2023, which represents an annualized dividend yield of 5.6%. Buying Opportunity • Feb 01
Now 22% undervalued Over the last 90 days, the stock is up 7.1%. The fair value is estimated to be US$12.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 14%. Board Change • Jan 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Member of Advisory Committee Dan Libarle was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 14
Hennessy Advisors, Inc., Annual General Meeting, Feb 09, 2023 Hennessy Advisors, Inc., Annual General Meeting, Feb 09, 2023, at 18:30 Pacific Standard Time. Location: StoneTree Golf Club, 9 stone tree lane Novato California United States Agenda: To elect all director nominees named in the proxy statement; to approve, by a non-binding advisory vote, the compensation of executive officers as disclosed in the proxy statement; to ratify the selection of Marcum LLP as independent registered public accounting firm for fiscal year 2023; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof. Announcement • Dec 09
Hennessy Advisors, Inc. Announces Board Changes On December 7, 2022, Hennessy Advisors, Inc. appointed Kiera Newton to the Company’s Board of Directors, effective December 8, 2022. Ms. Newton will serve until the Company’s annual meeting of shareholders to be held in 2023 and until her successor is duly elected and qualified. The Board has determined that Ms. Newton is independent within the meaning of Nasdaq Marketplace Rule 5606(a)(2). The Board also appointed Ms. Newton to the Audit Committee of the Board and the Audit Committee designated her as its Chair. Ms. Newton will receive compensation as a non-management director in accordance with the Company’s non-management director compensation practices as described in the section titled “Corporate Governance Practices–Director Compensation” of the Company’s Annual Meeting Proxy Statement filed with the Securities and Exchange Commission from time to time. On December 8, 2022, as part of a periodic Board refreshment process, Daniel G. Libarle, Rodger Offenbach, and Daniel B. Steadman were not nominated for reelection to the Board and are transitioning to serve on the Company’s Advisory Committee. In connection with Ms. Newton’s appointment and the refreshment process, the Board has set its size at eight members. Reported Earnings • Dec 08
Full year 2022 earnings released: EPS: US$0.83 (vs US$1.07 in FY 2021) Full year 2022 results: EPS: US$0.83 (down from US$1.07 in FY 2021). Revenue: US$29.7m (down 9.4% from FY 2021). Net income: US$6.19m (down 22% from FY 2021). Profit margin: 21% (down from 24% in FY 2021). The decrease in margin was driven by lower revenue. Funds under management (FUM) Beginning of period: US$4.07b End of period: US$2.90b Net inflows/outflows: US$491.4m outflow Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 9 highly experienced directors. Independent Director Lydia Knight-O'Riordan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 07
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 14 November 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.2%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.6%). Announcement • Oct 28
Hennessy Advisors, Inc. Declares Quarterly Dividend, Payable on November 30, 2022 The Board of Directors of Hennessy Advisors, Inc. declared a quarterly dividend of $0.1375 per share to be paid on November 30, 2022, to shareholders of record as of November 15, 2022, which represents an annualized dividend yield of 6.25%. Upcoming Dividend • Aug 08
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 15 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of American dividend payers (4.1%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 05
Third quarter 2022 earnings released: EPS: US$0.17 (vs US$0.30 in 3Q 2021) Third quarter 2022 results: EPS: US$0.17 (down from US$0.30 in 3Q 2021). Revenue: US$6.91m (down 19% from 3Q 2021). Net income: US$1.30m (down 42% from 3Q 2021). Profit margin: 19% (down from 26% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 04
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on August 31, 2022 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on August 31, 2022, to shareholders of record as of August 16, 2022. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 15% share price gain to US$10.84, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 30x in the Capital Markets industry in the US. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 17% share price gain to US$10.61, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 35x in the Capital Markets industry in the US. Total returns to shareholders of 29% over the past three years. Reported Earnings • May 13
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0.21 (down from US$0.26 in 2Q 2021). Revenue: US$7.75m (down 2.4% from 2Q 2021). Net income: US$1.60m (down 15% from 2Q 2021). Profit margin: 21% (down from 24% in 2Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 12
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on June 2, 2022 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on June 2, 2022, to shareholders of record as of May 23, 2022, which represents an annualized dividend yield of 5.8%. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 9 highly experienced directors. Independent Director Lydia Knight-O'Riordan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 18
Executive VP & Director recently sold US$148k worth of stock On the 11th of March, Daniel Steadman sold around 15k shares on-market at roughly US$9.83 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$126k more than they bought in the last 12 months. Reported Earnings • Feb 12
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: US$0.26 (up from US$0.24 in 1Q 2021). Revenue: US$8.53m (up 9.6% from 1Q 2021). Net income: US$1.91m (up 7.9% from 1Q 2021). Profit margin: 22% (in line with 1Q 2021). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 11
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on March 4, 2022 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on March 4, 2022, to shareholders of record as of February 22, 2022, which represents an annualized dividend yield of 5.4%. Reported Earnings • Nov 26
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$1.07 (up from US$1.07 in FY 2020). Revenue: US$32.8m (down 1.9% from FY 2020). Net income: US$7.90m (flat on FY 2020). Profit margin: 24% (in line with FY 2020). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 09
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 02 September 2021. Trailing yield: 5.5%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 06
Third quarter 2021 earnings released: EPS US$0.30 (vs US$0.24 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: US$8.53m (up 24% from 3Q 2020). Net income: US$2.24m (up 26% from 3Q 2020). Profit margin: 26% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Hennessy Advisors, Inc.(NasdaqCM:HNNA) dropped from Russell Microcap Growth Index Hennessy Advisors, Inc.(NasdaqCM:HNNA) dropped from Russell Microcap Growth Index Upcoming Dividend • May 18
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 04 June 2021. Trailing yield: 6.0%. Within top quartile of American dividend payers (3.4%). Higher than average of industry peers (1.7%). Reported Earnings • May 14
Second quarter 2021 earnings released: EPS US$0.26 (vs US$0.27 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2021 results: Revenue: US$7.93m (down 11% from 2Q 2020). Net income: US$1.89m (down 4.3% from 2Q 2020). Profit margin: 24% (up from 22% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • May 13
Hennessy Advisors, Inc. Announces Quarterly Dividend, Payable on June 4, 2021 Hennessy Advisors, Inc. announced a quarterly dividend of $0.1375 per share to be paid on June 4, 2021, to shareholders of record as of May 25, 2021, which represents an annualized dividend yield of 6.0%. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 15% share price gain to US$9.98, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 25x in the Capital Markets industry in the US. Total loss to shareholders of 41% over the past three years. Reported Earnings • Feb 13
First quarter 2021 earnings released: EPS US$0.24 (vs US$0.35 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$7.79m (down 24% from 1Q 2020). Net income: US$1.77m (down 33% from 1Q 2020). Profit margin: 23% (down from 26% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 09
New 90-day high: US$11.09 The company is up 17% from its price of US$9.50 on 10 November 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 19% over the same period. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 30% share price gain to US$11.09, the stock is trading at a trailing P/E ratio of 10.4x, up from the previous P/E ratio of 8x. This compares to an average P/E of 25x in the Capital Markets industry in the US. Total return to shareholders over the past three years is a loss of 25%. Recent Insider Transactions • Jan 01
Independent Director recently sold US$64k worth of stock On the 28th of December, Rodger Offenbach sold around 7k shares on-market at roughly US$8.94 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$57k more than they sold in the last 12 months. Announcement • Dec 16
Hennessy Advisors, Inc., Annual General Meeting, Feb 11, 2021 Hennessy Advisors, Inc., Annual General Meeting, Feb 11, 2021, at 13:00 Pacific Standard Time. Agenda: To consider elect all director nominees named in the proxy statement; to ratify the selection of Marcum LLP as independent registered public accounting firm for fiscal year 2021; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof. Reported Earnings • Dec 02
Full year 2020 earnings released: EPS US$1.07 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$33.4m (down 22% from FY 2019). Net income: US$7.84m (down 29% from FY 2019). Profit margin: 24% (down from 26% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to US$9.71, the stock is trading at a trailing P/E ratio of 8.2x, up from the previous P/E ratio of 7.1x. This compares to an average P/E of 23x in the Capital Markets industry in the US. Total return to shareholders over the past three years is a loss of 33%. Is New 90 Day High Low • Nov 03
New 90-day low: US$8.06 The company is down 1.0% from its price of US$8.15 on 05 August 2020. The American market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is down 2.0% over the same period.