NOVATO, Calif., Jan. 26, 2017 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) reported today that its Board of
Directors has approved a 3-for-2 stock split and a quarterly
dividend of $0.075 per share, which
represents a 12.5% increase over the previous quarterly dividend on
a split‑adjusted basis. The stock split will occur and the dividend
will be paid on March 6, 2017, to
shareholders of record as of February 10,
2017.
"We are proud to be able to reward our shareholders by splitting
our stock 3-for-2 and increasing our cash dividend," said
Neil Hennessy, President, Chairman
and CEO of Hennessy Advisors, Inc. "This decision
demonstrates our continued confidence in the Company's
future. We remain committed to executing our long-term
business plan, searching for strategic acquisitions and growing
organically through our sales and marketing programs," added Mr.
Hennessy.
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc.
is a publicly traded investment manager offering a broad range of
domestic equity, balanced and fixed income, and sector and
specialty mutual funds. Hennessy Advisors, Inc. is committed to its
consistent and repeatable investment process, combining time-tested
stock selection strategies with a highly disciplined, team-managed
approach, and to superior service to shareholders.
Supplemental Information
Nothing in this press
release shall be considered a solicitation to buy or an offer to
sell a security to any person in any jurisdiction where such offer,
solicitation, purchase or sale would be unlawful under the
securities laws of such jurisdiction.
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SOURCE Hennessy Advisors, Inc.