Page 8 - 2021 CU Solutions Group Annual Report

TREASURER’S REPORT, DAVID SNODGRASS

CU Solutions Group posted another encouraging performance
for 2020. Net income of $4.3 million in 2020 led to a dividend
payout of $2.1 million to shareholders, which was the company’s
tenth consecutive year for paying dividends.
Additional year-end highlights included:
• 2020 revenue of $28.8 million

• Total shareholder equity grew $2.1 million, or three percent, as
a result of $4.3 million in net income, half of which was paid
out as shareholder dividends
• Assets totaled $89.8 million and included $54.1 million in cash
and marketable securities
• New investments in WHITE64, CalcXML and the acquisition of
CU Training
• Due to a strategic rebalance of stocks and bonds, CUSG achieved
a 35 percent gain on its stock portfolio, comparing favorably
to a 20 percent gain in the S&P 500 and resulting in additional
unrealized gains of approximately $3.3 million in 2020
As CUSG transitions through 2021 to face the year’s unique chal-
lenges, the CUSG board and executive management continue to
strategize ways to grow and strengthen the balance sheet and
provide value for its shareholders, customers and employees.

Respectfully,

David Snodgrass
Secretary/Treasurer, CU Solutions Group

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