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Note 16 - Shareholders' Equity | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Equity [Text Block] | 16. SHAREHOLDERS’ EQUITY Dividend Policy In the first quarter of 2023, the Company announced that the Company's board of directors increased the cash dividend to $0.0625 per common share. The following table is a schedule of dividends paid during 2023:
Dividend Payment Date |  | Amount per common share |  | Record Date
March 31, 2023 |  | $ | 0.0625 |  | March 24, 2023
June 23, 2023 |  | $ | 0.0625 |  | May 24, 2023
September 22, 2023 |  | $ | 0.0625 |  | August 25, 2023
December 21, 2023 |  | $ | 0.0625 |  | November 24, 2023
Aggregate per share amount paid in 2023 |  | $ | 0.2500 |  |
Preferred stock – Authorized preferred stock consists of 500,000 shares with a par value of $25 per share. No shares of preferred stock were issued and outstanding as of December 31, 2023 or 2022. Treasury stock On November 1, 2022, the Company announced that the Company’s board of directors formally ratified and approved a share buyback program. The board of directors also directed management to implement a Rule 10b5-1 trading plan (the “10b5-1 Plan”) to facilitate share purchases through open market purchases, privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The 10b5-1 Plan provides for an aggregate purchase of currently outstanding common stock up to $30 million over a maximum period of 20 months. Payment for shares repurchased under the share buyback program will be funded using the Company's cash on hand and cash flow from operations. The below table shows the repurchases of equity securities related to the share repurchase program during the fiscal year ended December 31, 2023:
Period |  | Total Number of Shares Purchased |  |  | Average Price Paid per Share |  |  | Total Number of Shares Purchased as Part of Publicly Announced Programs |  |  | Maximum Amount that May Yet Be Used to Purchase Shares Under the Program |
January 1, 2023 - January 31, 2023 |  |  | 350,832 |  |  | $ | 4.29 |  |  |  | 350,832 |  |  | $ | 25,502,669 |
February 1, 2023 - February 28, 2023 |  |  | 326,992 |  |  | $ | 4.61 |  |  |  | 326,992 |  |  | $ | 24,003,172 |
March 1, 2023 - March 31, 2023 |  |  | 303,176 |  |  | $ | 4.97 |  |  |  | 303,176 |  |  | $ | 22,503,206 |
April 1, 2023 - April 30, 2023 |  |  | 303,969 |  |  | $ | 4.94 |  |  |  | 303,969 |  |  | $ | 21,003,245 |
May 1, 2023 - May 31, 2023 |  |  | 362,843 |  |  | $ | 4.14 |  |  |  | 362,843 |  |  | $ | 19,502,740 |
June 1, 2023 - June 30, 2023 |  |  | 494,164 |  |  | $ | 4.05 |  |  |  | 494,164 |  |  | $ | 17,504,007 |
July 1, 2023 - July 31, 2023 |  |  | 505,720 |  |  | $ | 3.96 |  |  |  | 505,720 |  |  | $ | 15,504,180 |
August 1, 2023 - August 31, 2023 |  |  | 435,342 |  |  | $ | 4.61 |  |  |  | 435,342 |  |  | $ | 13,505,242 |
September 1, 2023 - September 30, 2023 |  |  | 462,300 |  |  | $ | 4.31 |  |  |  | 462,300 |  |  | $ | 11,514,870 |
October 1, 2023 - October 31, 2023 |  |  | 491,869 |  |  | $ | 4.07 |  |  |  | 491,869 |  |  | $ | 9,515,101 |
November 1, 2023 - November 30, 2023 |  |  | 472,141 |  |  | $ | 4.24 |  |  |  | 472,141 |  |  | $ | 7,515,171 |
December 1, 2023 - December 31, 2023 |  |  | 449,839 |  |  | $ | 4.45 |  |  |  | 449,839 |  |  | $ | 5,515,237 |
Total |  | 4,959,187 |  |  |  |  |  | 4,959,187 |  |  |  |

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