Note 6 - Stockholders' Equity |
9 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Equity [Text Block] |
6. Stockholders’ Equity
Share Repurchases
In May 2016, the Board of Directors (the Board) authorized a -year share repurchase program pursuant to which the Company may repurchase up to $10.0 million in shares of the Company’s common stock. The Board subsequently extended the share repurchase program – most recently in May 2026 – and the current program will terminate on May 31, 2028. Repurchases under the Company’s share repurchase program may be made from time to time at management’s discretion on the open market or through privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the Exchange Act), subject to market conditions, applicable legal requirements and other relevant factors. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which permits common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The share repurchase program does not obligate the Company to purchase any particular amount of common stock and may be suspended, modified or discontinued by the Company without prior notice. The dollar value of the shares of the Company’s common stock that may yet be repurchased under the share repurchase program is $8.1 million.
The Company did repurchase any shares of common stock during the three and nine months ended June 30, 2026 and 2025. At June 30, 2026 and September 30, 2025, the Company held shares in treasury.
Dividends
The Company paid a quarterly cash dividend of $0.15 per share of common stock in each of the first three quarters of fiscal year 2026 and $0.12 per share of common stock in each of the first three quarters of fiscal year 2025.
Share-Based Compensation
During the nine months ended June 30, 2025, the Company accelerated the vesting of certain restricted stock units upon the retirement of the Company’s former Chief Financial Officer, making them fully vested, resulting in incremental share-based compensation expense of $0.5 million. |