Value Line, Inc. Announces 5% Dividend Increase and Renews Stock Repurchase Program

NEW YORK, April 17, 2020 (GLOBE NEWSWIRE) -- Value Line, Inc., (NASDAQ: VALU) announced today that its Board of Directors declared a 5% dividend increase over the current quarterly dividend level, its sixth consecutive annual increase.  The Board’s action on April 17, 2020 declared a quarterly cash dividend of $0.21 per common share, or $0.84 annualized, payable on May 11, 2020, to stockholders of record on April 27, 2020. 

The Board of Directors also on April 17, 2020 approved a renewal of the share repurchase program, effective immediately, allowing the repurchase of shares from time to time, up to an aggregate amount of $2,000,000.  The Company, under the previous program, announced in 2018, has purchased 72,613 shares and expended $1,775,673 of the authorized $2,000,000 initial amount.  The new repurchase program has no set price limit and no expiration date.

"Based on the Company’s current operating results, we believe that Value Line’s earnings warrant an  increase in our dividend, and that renewal of the repurchase program is also in the best interests of our shareholders," said Howard A. Brecher, the Company's Chairman and Chief Executive Officer. The repurchases will be made on the open market at prevailing market prices, in negotiated transactions off the market, in block purchases or otherwise.

The current yield of the Company’s common stock is 2.80% based on an annualized dividend rate of $0.84 per share and the April 15^th closing price of $30.00.  

The Company has 9,616,721 shares of common stock outstanding as of April 17, 2020.

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, ETFs 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: ETFs, Value Line Select: Dividend Income & Growth, The New Value Line ETFs Service, and certain Value Line copyrights, distributed under agreements including certain proprietary ranking system information and other proprietary information used 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 by calling 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 by calling 1-800-531-1425.