SPLIT AND CASH DIVIDEND ANNOUNCED BY HENNESSY ADVISORS, INC.
CA – January 27, 2005 – Hennessy Advisors, Inc. (OTCBB:HNNA)
The Board of Directors of Hennessy Advisors, Inc. has declared a
3 for 2 stock split and the Company’s first annual cash dividend.
The cash dividend this year will be $0.10 per share post split.
The stock split and dividend will be paid on March 8th , 2005 to
stockholders of record as of February 15th, 2005.
Executive Officer and President, Neil Hennessy, in announcing the
dividend stated, “We are very pleased our business has grown
to such an extent that we are able to reward our shareholders through
these two corporate actions.”
Advisors, Inc., located in Novato, CA, is the advisor to five no-load
mutual funds. The Hennessy Funds employ superb, time-tested stock
selection formulas and manage their funds with unwavering discipline
and consistency. The company serves clients with integrity, honesty
and candor, and their strategies and performance are fully disclosed.
Statements in this press release regarding Hennessy Advisors, Inc.’s
business, which are not historical facts, are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve a number
of risks, uncertainties and other important factors that could cause
the actual results and outcomes to differ materially from any future
results or outcomes expressed or implied by such forward-looking
statements. These risks, uncertainties and other important factors
are described in more detail in the “Risk Factors” section
of the Company’s annual report on Form 10-KSB for the fiscal
year ended September 30, 2004, filed December 14, 2004, with the
U.S. Securities and Exchange Commission, including, without limitation,
the “Risk Factors” section of Management’s Discussion
and Analysis and Results of Operations. The following factors may
affect the actual results of the Company:
volatility in the equity markets may cause the levels of our assets
under management to fluctuate significantly.
- Weak market conditions or loss of investor confidence in the mutual
fund industry may lower our assets under management and reduce our
revenues and income.
- We face strong competition from numerous and sometimes larger
- Changes in the distribution channels on which we depend could
reduce our revenues or hinder our growth.
- For the next several years, insurance costs are likely to increase
materially and we may not be able to obtain the same types or amounts
- For the next several years, professional service fees and compliance
costs are likely to increase due to increased securities industry
- Changes in accounting regulations may also have adverse effects
on our earnings per share.
- International conflicts and the ongoing threat of terrorism may
adversely affect the general economy, financial and capital markets
and our business.
Nothing in this section 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.