A-Mark Precious Metals, Inc.
(NASDAQ: AMRK) (A-Mark), a leading fully
integrated precious metals platform, today announced that its Board
of Directors has declared a quarterly cash dividend of $0.20 per
share, maintaining the company's current dividend program. The
dividend is payable on January 29, 2024, to stockholders of record
as of January 16, 2024.
About A-Mark Precious
MetalsFounded in 1965, A-Mark Precious Metals, Inc. is a
leading fully integrated precious metals platform that offers an
array of gold, silver, platinum, palladium, and copper bullion,
numismatic coins, and related products to wholesale and retail
customers via a portfolio of channels. The company conducts its
operations through three complementary segments: Wholesale Sales
& Ancillary Services, Direct-to-Consumer, and Secured Lending.
The company’s global customer base spans sovereign and private
mints, manufacturers and fabricators, refiners, dealers, financial
institutions, industrial users, investors, collectors, e-commerce
customers, and other retail customers.
A-Mark’s Wholesale Sales & Ancillary
Services segment distributes and purchases precious metal products
from sovereign and private mints. As a U.S. Mint-authorized
purchaser of gold, silver, and platinum coins since 1986, A-Mark
purchases bullion products directly from the U.S. Mint for
sale to customers. A-Mark also has longstanding distributorships
with other sovereign mints, including Australia, Austria, Canada,
China, Mexico, South Africa, and the United Kingdom. The company
sells more than 200 different products to e-commerce retailers,
coin and bullion dealers, financial institutions, brokerages, and
collectors. In addition, A-Mark sells precious metal products to
industrial users, including metal refiners, manufacturers, and
electronic fabricators.
Through its A-M Global Logistics subsidiary,
A-Mark provides its customers with a range of complementary
services, including managed storage options for precious metals as
well as receiving, handling, inventorying, processing, packaging,
and shipping of precious metals and coins on a secure basis.
A-Mark’s mint operations, which are conducted through its wholly
owned subsidiary Silver Towne Mint, enable the company to offer
customers a wide range of proprietary coin and bar offerings and,
during periods of market volatility when the availability of silver
bullion from sovereign mints is often product constrained,
preferred product access.
A-Mark’s Direct-to-Consumer segment operates as
an omni-channel retailer of precious metals, providing access to a
multitude of products through its wholly owned subsidiaries, JM
Bullion and Goldline. JM Bullion is a leading e-commerce retailer
of precious metals and operates seven separately branded,
company-owned websites targeting specific niches within the
precious metals market: JMBullion.com, ProvidentMetals.com,
Silver.com, GoldPrice.org, SilverPrice.org, BGASC.com and
BullionMax.com. JMB also owns CyberMetals.com, an online platform
where customers can purchase and sell fractional shares of digital
gold, silver, platinum, and palladium bars in a range of
denominations. Goldline markets precious metals directly to the
investor community through various channels, including television,
radio, and telephonic sales efforts. A-Mark also holds minority
ownership interests in four additional direct-to-consumer
brands.
The company operates its Secured Lending segment
through its wholly owned subsidiary, Collateral Finance Corporation
(CFC). Founded in 2005, CFC is a California licensed finance lender
that originates and acquires loans secured by bullion and
numismatic coins. Its customers include coin and precious metal
dealers, investors, and collectors.
A-Mark is headquartered in El Segundo, CA and
has additional offices and facilities in the neighboring Los
Angeles area as well as in Dallas, TX, Las Vegas, NV, Winchester,
IN, and Vienna, Austria. For more information, visit
www.amark.com.
A-Mark periodically provides information for
investors on its corporate website, www.amark.com, and its
investor relations website, ir.amark.com. This includes press
releases and other information about financial performance, reports
filed or furnished with the SEC, information on corporate
governance, and investor presentations.
Important Cautions Regarding
Forward-Looking StatementsStatements in this press release
that relate to future plans, objectives, expectations, performance,
events and the like are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and
the Securities Exchange Act of 1934. These include statements
regarding expectations with respect to future profitability and
growth, the dividend declaration, the amount or timing of any
future dividends, future macroeconomic conditions and demand for
precious metal products, and the Company’s ability to effectively
respond to changing economic conditions. Future events, risks and
uncertainties, individually or in the aggregate, could cause actual
results or circumstances to differ materially from those expressed
or implied in these statements. Factors that could cause actual
results to differ include the following: the failure to execute the
Company’s growth strategy, including the inability to identify
suitable or available acquisition or investment opportunities;
greater than anticipated costs incurred to execute this strategy;
changes in the current international political climate, which
historically has favorably contributed to demand and volatility in
the precious metals markets; potential adverse effects of the
current problems in the national and global supply chains;
increased competition for the Company’s higher margin services,
which could depress pricing; the failure of the Company’s business
model to respond to changes in the market environment as
anticipated; changes in consumer demand and preferences for
precious metal products generally; potential negative effects that
inflationary pressure may have on our business; the inability of
the Company to expand capacity at Silver Towne Mint, the failure of
our investee companies to maintain, or address the preferences of,
their customer bases; general risks of doing business in the
commodity markets; and the strategic, business, economic,
financial, political and governmental risks and other Risk Factors
described in in the Company’s public filings with the Securities
and Exchange Commission.
The Company undertakes no obligation to publicly
update or revise any forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements.
Company Contact:Steve Reiner,
Executive Vice President, Capital Markets & Investor
RelationsA-Mark Precious Metals, Inc.
1-310-587-1410sreiner@amark.com
Investor Relations Contact:Matt
Glover and Greg BradburyGateway Group, Inc.
1-949-574-3860AMRK@gateway-grp.com
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