Jack H. Brier, the Chairman, President, and CEO of US Alliance Corp (OTC:USAC), recently acquired 21,000 shares of the company's restricted common stock. The shares were purchased at a price of $1.00 each, totaling $21,000. Following this transaction, Brier's direct ownership in the company increased to 567,800 shares. The company currently offers an attractive 9.37% dividend yield and has maintained consistent dividend payments for seven consecutive years. This acquisition reflects Brier's continued confidence in the company's prospects, as he strengthens his stake in the life insurance firm based in Topeka, Kansas. According to InvestingPro analysis, USAC demonstrates solid financial health with liquid assets exceeding short-term obligations, and net income is expected to grow this year. For deeper insights into USAC's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, USA Compression (NYSE:USAC) Partners, LP reported record Q3 results in 2024, highlighting an 11% rise in total revenue compared to the previous year and a 2% increase sequentially. The firm's net income reached $19.3 million, while operating income stood at $75.7 million. These positive outcomes were credited to record average pricing for their services.
In addition, the company announced the appointment of a new CFO, Chris Paulsen, who is set to join on November 18, 2024. Capital expenditures for 2024 have been increased to $240-250 million, primarily for the redeployment and activation of compression units.
CEO Clint Green discussed the potential impact of the U.S. election on technology and industry demand, while expressing an expectation of ongoing demand for compression services. However, an unexpected increase in CapEx was reported due to equipment needing more rework than budgeted. Despite this, strong demand in the compression market is anticipated to continue. The impact of these capital investments will be further detailed in Q1 2025.
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