XML 40 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
STOCKHOLDERS' EQUITY
 12 Months Ended
Jun. 30, 2024
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Common Stock Repurchases. On April 27, 2023, the Company announced a program to repurchase up to $100 million of its common stock, and on February 7, 2024, the Company announced an additional program to repurchase up to an additional $100 million of its common stock. The new share repurchase authorization is in addition to the existing share repurchase plan announced in April 2023. The Company may repurchase shares on the open market or through privately negotiated transactions at times and prices considered appropriate, at the discretion of the Company, and subject to its assessment of alternative uses of capital, stock trading price, general market conditions and regulatory factors. The repurchase program does not obligate the Company to acquire any specific number of shares. The share repurchase program will continue in effect until terminated by the Board. The Company accounts for treasury stock using the cost method as a reduction of stockholders’ equity in the accompanying Consolidated Financial Statements.
The following table presents common stock repurchases:
Fiscal Year Ended
June 30,
(Dollars in thousands, except per share data)20242023
Total repurchase$97,023 $49,258 
Number of shares repurchased2,541,254 1,321,161 
Average price paid per share$38.18 $37.28 
As of June 30, 2024, the Company has approximately $106.5 million remaining under the share repurchase authorizations.