NOVATO, Calif., Feb. 5, 2026 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ:HNNA) today announced financial results for its first fiscal quarter of 2026, which ended December 31, 2025. The Board of Directors also declared a quarterly dividend of $0.15 per share, a 9% increase, which will be paid on March 4, 2026, to shareholders of record as of February 18, 2026. This represents an annualized dividend yield of 5.9%, based on a closing price of $10.15 on February 4, 2026.
"The sentiment I continue to hear is that 2025 was a 'surprisingly strong' year for the U.S. stock market. I would argue the strength of the market speaks for itself and reflects solid underlying economic fundamentals," said Neil Hennessy, Chairman and CEO. "The natural question is what comes next. While concerns remain around inflation, global trade tensions, and interest rates, I continue to believe in the resilience of the U.S. economy. Headlines may create volatility, but I am confident that a soft landing in 2026 remains a reasonable expectation, supported by projected GDP growth, improving earnings, and continued economic expansion."
"Here at Hennessy, we manage our products with a steady hand and a long-term perspective," he added. "We appreciate the continued trust of our shareholders and remain focused on disciplined execution and persistence in the year ahead."
"Despite lower assets and earnings compared to the prior year, our balance sheet continues to strengthen," stated Teresa Nilsen, President and COO. "Cash net of debt has increased nearly 30% over the past twelve months."
"Our strong cash position is allowing us to make the strategic decision to increase our quarterly dividend to $0.15 per share," Nilsen added. "This marks our 15th dividend increase and reflects our commitment to returning capital to shareholders, while maintaining the financial strength and operational efficiency needed to act decisively when the right opportunities arise."
Summary Highlights (compared to the prior comparable quarter ended December 31, 2024):
Total revenue: $8.3 million (down 14%)
Net income: $1.9 million (down 32%)
Fully diluted earnings per share: $0.24 (down 33%)
Average assets under management, upon which revenue is earned: $4.2 billion (down 14%)
Total assets under management: $4.1 billion (down 14%)
Cash and cash equivalents, net of gross debt: $31.7 million (up 28%)
Three Months Ended Dec 31,
