STOCKHOLDERS' EQUITY	12 Months Ended
Jun. 30, 2020
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS’ EQUITY Stock Repurchase Program In March 2018, the Board of Directors authorized a stock repurchase program of up to 1,000,000 shares of Common Stock, which was completed during the quarter ended March 31, 2020. During fiscal 2018, 2019 and 2020, we repurchased 1,021,458 shares, 288,316 shares and 562,707 shares, respectively, of Common Stock under our then current programs. In April 2020, the Board of Directors authorized a new share repurchase program of up to 1,000,000 shares of Common Stock. Repurchases may be made from time to time under the program through open-market purchases or privately-negotiated transactions at our discretion. Upon repurchase, the shares are restored to the status of authorized but unissued shares and we record them as a reduction in the number of shares of Common Stock issued and outstanding in our consolidated financial statements. As of June 30, 2020, 1,000,000 shares were available for repurchase under the program authorized in April 2020. In August 2020, the Board of Directors increased the maximum number of shares to 3,000,000 shares authorized under the stock repurchase program. Dividends We have not paid any cash dividends since the consummation of our initial public offering in 1997 and we do not currently intend to pay any cash dividends in the foreseeable future. Our Board of Directors will determine the payment of future cash dividends, if any. Certain of our current bank credit facilities restrict the payment of cash dividends and future borrowings may contain similar restrictions.

STOCKHOLDERS' EQUITY

12 Months Ended

Jun. 30, 2020

12. STOCKHOLDERS’ EQUITY

Stock Repurchase Program

In March 2018, the Board of Directors authorized a stock repurchase program of up to 1,000,000 shares of Common Stock, which was completed during the quarter ended March 31, 2020. During fiscal 2018, 2019 and 2020, we repurchased 1,021,458 shares, 288,316 shares and 562,707 shares, respectively, of Common Stock under our then current programs.

In April 2020, the Board of Directors authorized a new share repurchase program of up to 1,000,000 shares of Common Stock. Repurchases may be made from time to time under the program through open-market purchases or privately-negotiated transactions at our discretion. Upon repurchase, the shares are restored to the status of authorized but unissued shares and we record them as a reduction in the number of shares of Common Stock issued and outstanding in our consolidated financial statements. As of June 30, 2020, 1,000,000 shares were available for repurchase under the program authorized in April 2020. In August 2020, the Board of Directors increased the maximum number of shares to 3,000,000 shares authorized under the stock repurchase program.

Dividends

We have not paid any cash dividends since the consummation of our initial public offering in 1997 and we do not currently intend to pay any cash dividends in the foreseeable future. Our Board of Directors will determine the payment of future cash dividends, if any. Certain of our current bank credit facilities restrict the payment of cash dividends and future borrowings may contain similar restrictions.