A-Mark Precious Metals, Inc. (NASDAQ:
AMRK) (A-Mark), a leading fully integrated precious metals
platform, today announced that its Board of Directors has declared
a quarterly cash dividend of $0.20 per share, maintaining the
company's current dividend program. The dividend is payable on July
28, 2023, to stockholders of record as of July 17, 2023.
About A-Mark Precious
Metals
Founded in 1965, A-Mark Precious Metals, Inc. is
a leading fully integrated precious metals platform that offers an
array of gold, silver, platinum, palladium, and copper bullion,
numismatic coins, and related products to wholesale and retail
customers via a portfolio of channels. The company conducts its
operations through three complementary segments: Wholesale Sales
& Ancillary Services, Direct-to-Consumer, and Secured Lending.
The company’s global customer base spans sovereign and private
mints, manufacturers and fabricators, refiners, dealers, financial
institutions, industrial users, investors, collectors, e-commerce
customers and other retail customers.
A-Mark’s Wholesale Sales & Ancillary
Services segment distributes and purchases precious metal products
from sovereign and private mints. As a U.S. Mint-authorized
purchaser of gold, silver, and platinum coins since 1986, A-Mark
purchases bullion products directly from the U.S. Mint for sale to
customers. A-Mark also has longstanding distributorships with other
sovereign mints of countries that include Australia, Austria,
Canada, China, Mexico, South Africa, and the United Kingdom. The
company sells more than 200 different products to e-commerce
retailers, coin and bullion dealers, financial institutions,
brokerages, and collectors. In addition, A-Mark sells precious
metal products to industrial users, including metal refiners,
manufacturers, and electronic fabricators.
Through its A-M Global Logistics subsidiary,
A-Mark provides its customers with a range of complementary
services, including managed storage options for precious metals as
well as receiving, handling, inventorying, processing, packaging,
and shipping of precious metals and coins on a secure basis.
A-Mark’s mint operations, which are conducted through its wholly
owned subsidiary Silver Towne Mint, enable the company to offer
customers a wide range of proprietary coin and bar offerings and,
during periods of market volatility when the availability of silver
bullion from sovereign mints is often product constrained,
preferred product access.
A-Mark’s Direct-to-Consumer segment operates as
an omni-channel retailer of precious metals, providing access to a
multitude of products through its wholly owned subsidiaries, JM
Bullion and Goldline. JM Bullion is a leading e-commerce retailer
of precious metals and operates seven separately branded,
company-owned websites targeting specific niches within the
precious metals market: JMBullion.com, ProvidentMetals.com,
Silver.com, GoldPrice.org, SilverPrice.org, BGASC.com and
BullionMax.com. JMB also owns CyberMetals.com, an online platform
where customers can purchase and sell fractional shares of digital
gold, silver, platinum and palladium bars in a range of
denominations. Goldline markets precious metals directly to the
investor community through various channels, including television,
radio, and telephonic sales efforts. A-Mark also holds minority
ownership interests in three additional direct-to-consumer
brands.
The company operates its Secured Lending segment
through its wholly owned subsidiaries, Collateral Finance
Corporation (CFC) and AM Capital Funding. Founded in 2005, CFC is a
California licensed finance lender that originates and acquires
loans secured by bullion and numismatic coins. Its customers
include coin and precious metal dealers, investors, and collectors.
AM Capital Funding was formed in 2018 for the purpose of
securitizing eligible secured loans of CFC.
A-Mark is headquartered in El Segundo, CA and
has additional offices and facilities in the neighboring Los
Angeles area as well as in Dallas, TX, Las Vegas, NV, Winchester,
IN, and Vienna, Austria. For more information, visit
www.amark.com.
A-Mark periodically provides information for
investors on its investor relations website, ir.amark.com.
This includes press releases and other information about financial
performance, reports filed or furnished with the SEC, information
on corporate governance, and investor presentations.
Important Cautions Regarding
Forward-Looking Statements
Statements in this press release that relate to
future plans, objectives, expectations, performance, events and the
like are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Securities
Exchange Act of 1934. These include statements relating to
expectations regarding the dividend declaration, the amount or
timing of any future dividends, future macroeconomic conditions and
demand for precious metal products, and the Company’s ability to
effectively respond to changing economic conditions. Future events,
risks and uncertainties, individually or in the aggregate, could
cause actual results or circumstances to differ materially from
those expressed or implied in these statements. Factors that could
cause actual results to differ include the following: the failure
to execute the Company’s growth strategy, including the inability
to identify suitable or available acquisition or investment
opportunities; greater than anticipated costs incurred to execute
this strategy; the failure to achieve the anticipated benefits of
any pending investment; changes in the current international
political and economic climate, which has favorably contributed to
demand and volatility in the precious metals markets; potential
adverse effects of the current problems in the national and global
supply chains; increased competition for the Company’s higher
margin services, which could depress pricing; the failure of the
Company’s business model to respond to changes in the market
environment as anticipated; changes in consumer demand and
preferences for precious metal products generally; potential
negative effects that inflationary pressure may have on our
business; the inability of the Company to expand capacity at Silver
Towne Mint, the failure of our investee companies to maintain, or
address the preferences of, their customer bases; general risks of
doing business in the commodity markets; and the strategic,
business, economic, financial, political and governmental risks and
other Risk Factors described in in the Company’s public filings
with the Securities and Exchange Commission.
The words "should," "believe," "estimate,"
"expect," "intend," "anticipate," "foresee," "plan" and similar
expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates on
which they were made. The Company undertakes no obligation to
publicly update or revise any forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking
statements.
Company Contact:Steve Reiner,
Executive Vice President, Capital Markets & Investor
RelationsA-Mark Precious Metals, Inc.
1-310-587-1410sreiner@amark.com
Investor Relations Contact:Matt
Glover, Matthew HauschGateway Group, Inc.
1-949-574-3860AMRK@gateway-grp.com
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From Apr 2024 to May 2024
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From May 2023 to May 2024