Hennessy Advisors [profile] reported an dip in AUM and earnings in the first quarter. The Novato, California-based shop reported earnings per share $0.04 for Q1 2012, tdown from $0.06 cents per share in Q1 2011. The average assets under management decreased by 12 percent in Q1.

The company is paying a dividend for Q1 of $0.03125 per share.

“Hennessy Advisors has remained profitable for the second quarter of the fiscal year and our cash position has grown, allowing the Board of Directors to once again confidently vote to pay the quarterly dividend to our shareholders,” stated Neil Hennessy, president, chairman and CEO of his eponymous firm.  

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