Value Line, Inc. Declares a Quarterly Cash Dividend of $0.19 Per Common Share and Announces Stock Repurchase Program
20 October 2018 - 7:03AM
Value Line, Inc., (NASDAQ: VALU) announced today that its
Board of Directors declared on October 19, 2018 a quarterly cash
dividend of $0.19 per common share, payable on November 9, 2018, to
stockholders of record on October 29, 2018. The Company has
9,689,334 shares of common stock outstanding as of October 19,
2018.
The Board of Directors also on October 19, 2018
approved a new share repurchase program, authorizing the repurchase
of shares of the Company’s Common Stock up to an aggregate purchase
price of $2,000,000.
"Based on the current market, we believe that
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 from time to
time on the open market at prevailing market prices, in negotiated
transactions off the market, in block purchases or otherwise. The
repurchase program may be suspended or discontinued at any time at
the Company’s discretion and has no set expiration date.
The current yield of the Company’s common stock
is 3.1% based on an annualized dividend rate of $0.76 per share and
the October 18th closing price of $24.60. In addition, the Company
returned $46,000 to shareholders in the first fiscal quarter ended
July 31, 2018 through share buybacks under the former repurchase
program.
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 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: Dividend Income
& Growth, Value Line Select: ETFs and a variety of
data products, including arrangements combining certain
proprietary ranking system information and other proprietary
information 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 through 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 at 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;
- protection of 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 assets under management due to broadly
based changes in the values of equity and debt securities,
redemptions by investors and other factors, and the effect these
changes may have on the valuation of EAM’s intangible assets;
- generating future revenues or collection of receivables from
significant customers;
- dependence on key personnel;
- competition in the fields of publishing, copyright data and
investment management;
- 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;
- 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, 2018; and in
Part II, Item 1A of the Quarterly Report on Form 10-Q for the
period ended July 31, 2018; 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.
BrecherValue Line, Inc. (212)
907-1500www.valueline.comwww.ValueLinePro.com,
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