Note 14 - Shareholders' Equity
|12 Months Ended|
Jun. 30, 2020
|Notes to Financial Statements|
|Stockholders' Equity Note Disclosure [Text Block]||
Shares Authorized for Issuance
Our authorized capital stock consists of
150,000,000shares of common stock, par value
$0.01per share, and
1,055,000shares of Preferred Stock, par value
$0.01per share. The Board of Directors
mayprovide for the issuance of all or any shares of Preferred Stock in
oneor more classes or series, and to fix for each such class or series such voting powers, full or limited, or
novoting 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
maybe permitted by the General Corporation Law of the State of Delaware. As of
June 30, 2020and
shares of Preferred Stock issued or outstanding.
Share Repurchase Program
January 13, 2020,the Company's Board of Directors authorized an increase in the aggregate share repurchase authorization under the Company's existing multi-year share repurchase program (the “Share Repurchase Program”) to
3,000,000shares. There is
noexpiration date on the repurchase authorization.
$24.3million during fiscal
noshare repurchases during fiscal
June 30, 2020,we had a remaining Board authorization to repurchase
2,007,364shares of our common stock pursuant to our program. The timing and amount of any future share repurchases in the open market and through privately negotiated transactions will be determined by the Company's officers at their discretion and based on a number of factors, including an evaluation of market and economic conditions. The Share Repurchase Program was temporarily halted on
April 1, 2020as part of the Company's action plan in response to COVID-
During the past
threefiscal years, we repurchased the following shares of our common stock (trade date basis) under our existing share repurchase program:
For the fiscal years presented above, we funded our purchases of treasury stock with existing cash on hand and cash generated through current period operations. All our common stock repurchases are recorded as treasury stock and result in a reduction of shareholders' equity.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef