UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of the earliest event reported): October 19, 2018

 

Value Line, Inc.

(Exact name of registrant as specified in its charter)

 

New York
(State or Other Jurisdiction

of Incorporation)

 

0-11306
 (Commission File Number)

 

13-3139843
(I.R.S. Employer
Identification No.)

 

551 Fifth Avenue
New York, New York
(Address of Principal Executive Offices)

10176

(Zip Code)

 

(212) 907-1500
(Registrant’s Telephone Number, Including Area Code)

 

 Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the of the Securities Exchange Act of 1934.

 

Emerging growth company [ ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

 

 

 
 

 

Item 8.01.  Other Events.

 

On October 19, 2018, the Company issued a press release which is attached as Exhibit 99.1 and is incorporated into this Form 8-K by reference.

 

 

Item 9.01. Financial Statements and Exhibits

 

(d)      Exhibits

 

Exhibit Number  Description
   
99.1  Press release dated October 19, 2018

 

 
 

 

SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  VALUE LINE, INC.  
     
     
  (Registrant)  

 

 

  By /s/ Howard A. Brecher 
    Howard A. Brecher
    Chairman & Chief Executive Officer

Date: October 19, 2018

 

 
 

 

EXHIBIT INDEX

 

Exhibit Number  Description
   
99.1 Press release dated October 19, 2018

    

ex_125798.htm

Exhibit 99.1

 

Value Line, Inc.

551 Fifth Avenue

New York, NY 10176

 

For Immediate Release

October 19, 2018

NEWS RELEASE

 

Contact: Howard A. Brecher                           

Value Line, Inc.

(212) 907-1500

www.valueline.com

www.ValueLinePro.com, www.ValueLineLibrary.com

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VALUE LINE, INC. DECLARES

A QUARTERLY CASH DIVIDEND OF $0.19 PER COMMON SHARE

AND ANNOUNCES STOCK REPURCHASE PROGRAM

 

 

New York – (Globe Newswire) – Value Line, Inc., (NASDAQ: VALU) announced today that its Board of Directors declared on October 19, 2018 a quarterly cash dividend of $0.19 per common share, payable on November 9, 2018, to stockholders of record on October 29, 2018. The Company has 9,689,334 shares of common stock outstanding as of October 19, 2018.

 

The Board of Directors also on October 19, 2018 approved a new share repurchase program, authorizing the repurchase of shares of the Company’s Common Stock up to an aggregate purchase price of $2,000,000.

 

"Based on the current market, we believe that the repurchase program is in the best interests of our shareholders," said Howard A. Brecher, the Company's Chairman and Chief Executive Officer. The repurchases will be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, in block purchases or otherwise. The repurchase program may be suspended or discontinued at any time at the Company’s discretion and has no set expiration date.

 

The current yield of the Company’s common stock is 3.1% based on an annualized dividend rate of $0.76 per share and the October 18th closing price of $24.60. In addition, the Company returned $46,000 to shareholders in the first fiscal quarter ended July 31, 2018 through share buybacks under the former repurchase program.

 

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 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: Dividend Income & Growth, Value Line Select: ETFs and a variety of data products, including arrangements combining certain proprietary ranking system information and other proprietary information 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 through 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 at 1-800-531-1425.

 

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Cautionary Statement Regarding Forward-Looking Information

 

This report contains statements that are predictive in nature, depend upon or refer to future events or conditions (including certain projections and business trends) accompanied by such phrases as “believe”, “estimate”, “expect”, “anticipate”, “will”, “intend” and other similar or negative expressions, that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. Actual results for Value Line, Inc. (“Value Line” or “the Company”) may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following:

 

 

●

maintaining revenue from subscriptions for the Company’s digital and print published products;
 

●

changes in market and economic conditions, including global financial issues;
 

●

protection of intellectual property rights;
 

●

dependence on non-voting revenues and non-voting profits interests in EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”), which serves as the investment advisor to the Value Line Funds and engages in related distribution, marketing and administrative services;
 

●

fluctuations in EAM’s assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors, and the effect these changes may have on the valuation of EAM’s intangible assets;
 

●

generating future revenues or collection of receivables from significant customers;
 

●

dependence on key personnel;
 

●

competition in the fields of publishing, copyright data and investment management;
 

●

the impact of government regulation on the Company’s and EAM’s businesses;
 

●

availability of free or low cost investment data through discount brokers or generally over the internet;
 

●

terrorist attacks, cyber attacks and natural disasters;
 

●

other risks and uncertainties, including but not limited to the risks described in Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended April 30, 2018; and in Part II, Item 1A of the Quarterly Report on Form 10-Q for the period ended July 31, 2018; and
 

●

other risks and uncertainties arising from time to time.

 

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors which may involve external factors over which we may have no control or changes in our plans, strategies, objectives, expectations or intentions, which may happen at any time at our discretion, could also have material adverse effects on future results. Except as otherwise required to be disclosed in periodic reports required to be filed by public companies with the SEC pursuant to the SEC's rules, we have no duty to update these statements, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, current plans, anticipated actions, and future financial conditions and results may differ from those expressed in any forward-looking information contained herein.

 

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