Our authorized capital stock consists of shares of common stock, par value per share, and shares of Preferred Stock, par value per share. The Board of Directors provide for the issuance of all or any shares of Preferred Stock in or more classes or series, and to fix for each such class or series such voting powers, full or limited, or voting powers, and such distinctive designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board of Directors providing for the issuance of such class or series and as be permitted by the General Corporation Law of the State of Delaware. As of and there were shares of Preferred Stock issued or outstanding.

 

 

At we had a remaining Board authorization to repurchase shares of our common stock pursuant to our program. There is expiration date on the repurchase authorization and the amount and timing of future share repurchases, if any, will be determined as market and business conditions warrant.

 

During the past fiscal years, we repurchased the following shares of our common stock (trade date basis) under our existing share repurchase program:

 

		2019				2018				2017
Common shares repurchased			-				950,484				357,363
Cost to repurchase common shares		$	-			$	22,019,381			$	10,246,302
Average price per share		$	-			$	23.17			$	28.67

 

For the fiscal years presented above, we funded our purchases of treasury stock with existing cash on hand, cash generated through current period operations and our credit facility. All our common stock repurchases are recorded as treasury stock and result in a reduction of shareholders’ equity.