{"id":523497,"date":"2021-08-04T16:20:24","date_gmt":"2021-08-04T20:20:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hennessy-advisors-inc-reports-25-increase-in-quarterly-earnings-per-share-and-announces-quarterly-dividend\/"},"modified":"2021-08-04T16:20:24","modified_gmt":"2021-08-04T20:20:24","slug":"hennessy-advisors-inc-reports-25-increase-in-quarterly-earnings-per-share-and-announces-quarterly-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hennessy-advisors-inc-reports-25-increase-in-quarterly-earnings-per-share-and-announces-quarterly-dividend\/","title":{"rendered":"Hennessy Advisors, Inc. Reports 25% Increase in Quarterly Earnings Per Share and Announces Quarterly Dividend"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n NOVATO, Calif.<\/span>, Aug. 4, 2021<\/span> \/PRNewswire\/ — Hennessy Advisors, Inc. (NASDAQ:HNNA) <\/b>reported results for its third fiscal quarter of 2021, which ended June 30, 2021<\/span>. The firm also announced a quarterly dividend of $0.1375<\/span> per share to be paid on September 2, 2021<\/span>, to shareholders of record as of August 17, 2021<\/span>, which represents an annualized dividend yield of 5.9%.*<\/p>\n

“Through constant and often conflicting and confusing media reports on the Delta variant, inflation, employment, interest rates, and politics, we continue to see the financial markets rise to new highs, which I believe is driven primarily by strong underlying fundamentals,” said Neil Hennessy<\/span>, Chairman and CEO. “There are so many positives, including the return of outdoor events and increasing occupancy rates in hotels. \u00a0As hard as it is to say, it is even encouraging to see the return of traffic after the quiet summer of 2020,” he noted. <\/p>\n

“The Dow Jones Industrial Average closed at a record high on July 26, 2021<\/span>, the economy grew at a strong annual rate of 6.5% during the second calendar quarter, and excess cash held by both consumers and companies appears ready to be deployed. I see room for continued dividend hikes and stock buybacks, which should support continued strength in the markets. In my opinion, headwinds caused by short-term supply chain issues and labor shortages should be offset by wage increases and improved production output, allowing the U.S. economy to thrive,” said Mr.\u00a0Hennessy.<\/p>\n

“We are very pleased to report growth in assets under management, income, and earnings this quarter, which I believe is a testament to the determination and hard work of our team,” said Teresa Nilsen<\/span>, President and COO. “We maintain a healthy balance sheet and are happy to share our prosperity with our shareholders via our quarterly dividend. We continue to pursue opportunities to build Hennessy Advisors for future success, through both organic growth and strategic partnerships,” she added. <\/p>\n

\n Summary Highlights <\/b>(compared to the prior comparable quarter ended June 30, 2020<\/span>):<\/p>\n