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NOVATO, CA - Hennessy Advisors, Inc. (NASDAQ:HNNA), a $95.35 million market cap investment advisory firm with a strong dividend track record spanning 21 years, announced the results of its Annual Meeting held on February 13, 2025, confirming the election of its directors and the ratification of its independent registered public accounting firm for the fiscal year 2025.
During the meeting, shareholders voted on the appointment of seven directors to the company’s board. Neil J. Hennessy received 4,401,276 votes for, with 9,057 withheld and 1,454,998 non-votes. Teresa M. Nilsen was re-elected with 4,401,921 votes for, 8,412 withheld, and the same number of non-votes. Henry Hansel, Brian A. Hennessy, Lydia Knight-O’Riordan, Kiera Newton, and Susan W. Pomilia also retained their board positions, with varying numbers of votes for, withheld, and non-votes.
Additionally, shareholders overwhelmingly supported the ratification of CBIZ (NYSE:CBZ) CPAs P.C. as the independent registered public accounting firm for the upcoming fiscal year. The proposal received 5,819,711 votes for, 38,597 against, and 7,023 abstained, with no broker non-votes.
The re-election of the board members and the confirmation of the accounting firm highlight the trust and continuity within Hennessy Advisors’ corporate governance. The company, known for its investment advice services, continues to maintain its leadership structure as it moves forward in the 2025 fiscal year.
This announcement is based on a press release statement filed with the SEC.
In other recent news, Hennessy Advisors, Inc. reported a remarkable rise in its financial results for the first fiscal quarter, with net income surging by 136% to $2.8 million and total revenue increasing by 58% to $9.7 million. Earnings per share also saw a notable uptick, rising 125% to $0.36. The firm’s average assets under management, a key revenue driver, expanded by nearly 59% to $4.8 billion.
In a separate development, Hennessy Advisors also announced a change in its independent registered public accounting firm. Following the decision of Marcum LLP not to stand for re-election, the company’s Audit Committee approved the engagement of CBIZ CPAs P.C. as their new auditor for the fiscal year ending September 30, 2025. The company’s previous financial statements audited by Marcum did not contain any adverse opinion or disclaimer of opinion.
These are among the recent developments for Hennessy Advisors. The company declared a quarterly dividend of $0.1375 per share, corresponding to an annualized yield of 4.6%. The company’s leadership remains optimistic about sustaining growth and creating economic opportunities despite potential market volatility.
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