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Note 7 - Stockholders' Equity and Noncontrolling Interest
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Equity [Text Block]

NOTE 7: Stockholders' Equity and Noncontrolling Interests

 

Stockholders’ Equity

 

On  May 13, 2026, our board of directors declared a dividend of $0.18 per share on our common stock, which represents a 5.9% increase over the prior quarterly rate of $0.17 per share. The second quarter dividend was paid on  July 17, 2026 to common stockholders of record as of  June 26, 2026.

 

On  March 9, 2026, our board of directors declared a dividend of $0.17 per share on our common stock, which was paid on  April 17, 2026 to common stockholders of record as of  March 27, 2026.

 

ATM Program

 

On July 28, 2023, we entered into an equity distribution agreement pursuant to which we were permitted from time to time to offer and sell shares of our common stock under our prior shelf registration statement having an aggregate offering price of up to $450,000 (the “Previous ATM Program”) in negotiated transactions or transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”). Under the Previous ATM Program, we were also permitted to enter into one or more forward sale transactions for the sale of shares of our common stock on a forward basis. There were no forward sale transactions and no shares of our common stock were sold under the Previous ATM Program during the three months ended  June 30, 2026. The Previous ATM program was terminated on June 12, 2026 in connection with the replacement of the previous shelf registration statement. There was $107,617 in shares of our common stock sold under the Previous ATM Program prior to its termination.

 

Stock Repurchase Program

 

On May 18, 2022, our board of directors authorized a common stock repurchase program (the "Stock Repurchase Program") covering up to $250,000 in shares of our common stock. Under the Stock Repurchase Program, we, in our discretion, may purchase our shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors, including the price and availability of our shares, trading volumes and general market conditions. The Stock Repurchase Program has no time limit and may be suspended or discontinued at any time. During the six months ended June 30, 2026, we repurchased and retired 1,839,460 shares of common stock under our Stock Repurchase Program at a weighted average price of $16.24 per share at a total cost of $29,937.  No shares were repurchased under our Stock Repurchase Program during the three months ended  June 30, 2026. No shares were repurchased under our Stock Repurchase Program during the three and six months ended June 30, 2025. As of  June 30, 2026, $190,087 in shares of our common stock remained authorized for repurchase under our Stock Repurchase Program.

 

Noncontrolling Interest

 

During the six months ended June 30, 2026, no holders of IROP units exchanged units for shares of our common stock. As of  June 30, 2026, 5,941,643 IROP units held by unaffiliated third parties remain outstanding.

 

On  May 13, 2026, our board of directors declared a dividend of $0.18 per IROP unit, which was paid on  July 17, 2026 to IROP unit holders of record as of  June 26, 2026.

 

On  March 9, 2026, our board of directors declared a dividend of $0.17 per IROP unit, which was paid on  April 17, 2026 to IROP unit holders of record as of  March 27, 2026.