#United States #Hennessy Advisors #Novato #quarterly dividend #Earnings Growth

Hennessy Advisors Reports Record Earnings

Hennessy Advisors, Inc. (Nasdaq: HNNA) recently reported its financial performance for the first quarter of the fiscal year 2025, which concludes on December 31, 2024. The firm experienced extraordinary growth, showcasing a 125% increase in fully diluted earnings per share, reflecting a robust financial landscape. Simultaneously, Hennessy announced a quarterly dividend of $0.1375 per share, scheduled for payment on March 6, 2025, to shareholders who are on record as of February 24, 2025. This generates an impressive annualized dividend yield of 4.6%.

Neil Hennessy, the Chairman and CEO, praised the strong performance of stock markets in 2024, pointing out how the Dow Jones Industrial Average and the S&P 500® Index delivered significant returns. He expressed confidence that the U.S. economy's strength is expected to carry into 2025, fueled by high consumer spending and robust corporate profits across various sectors. Hennessy emphasized that, despite potential market volatility, he remains optimistic about continued growth and economic opportunities thanks to corporate America's resilience.

Teresa Nilsen, President and COO, highlighted the firm’s stellar product performance. All 17 of Hennessy Funds registered positive returns by the end of December 2024, with consistent growth observed over longer periods as well. Nilsen stated that they witnessed fluctuations in total assets under management, which surged by nearly 50% when compared to the previous period. Simultaneously, their cash position, when netted against liabilities, strengthened significantly over the year.

Key Financial Highlights

• - Total Revenue reached $9.7 million, marking a 58% increase.
• - Net Income stood at $2.8 million, an impressive rise of 136%.
• - Fully Diluted Earnings Per Share amounted to $0.36, which is up by 125% from the previous quarter.
• - Average assets under management increased by 59% to $4.8 billion, with total assets also rising by 46% in comparison to the prior year.
• - The company holds cash and cash equivalents net of debt totaling $24.7 million, showcasing a 28% improvement.

Each of these metrics signifies strong performance, highlighting Hennessy Advisors’ competent financial management and strategic planning, which have ultimately driven shareholder value and elevated the firm's position within the investment advisory landscape.

Hennessy Advisors remains committed to delivering quality service to its shareholders through disciplined strategies based on a buy-and-hold philosophy rather than market timing. Looking forward, the firm has expressed a commitment to sustaining its impressive performance while continually seeking new opportunities for growth.

In conclusion, Hennessy Advisors’ exemplary quarterly performance not only reflects diligence and strategic planning but sets a promising tone for the fiscal year to come as they look to build on their success and provide substantial returns to their shareholders.

About Hennessy Advisors, Inc.

Hennessy Advisors, Inc. operates as a publicly traded investment management firm delivering diverse domestic equity, multi-asset, and specialty fund options. Their mission is to offer exceptional service and maintain a consistent investment approach designed to withstand market fluctuations.