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SHARE REPURCHASE PROGRAMS | 12 Months Ended
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Oct. 31, 2024
SHARE REPURCHASE PROGRAMS [Abstract] |
SHARE REPURCHASE PROGRAMS | NOTE 21 - SHARE REPURCHASE PROGRAMS In September 2020, the Company’s Board of Directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act. The repurchase authorization by the Board of Directors has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions. Share repurchases under this authorization commenced on September 16, 2020. The most recent 10b5-1 plan expired on September 15, 2022, and has not been renewed. In 2022, we repurchased 0.2 million shares at a cost of $2.5 million (an average of $13.43 per share) and, since the program’s inception, we have repurchased 5.8 million shares at a cost of $68.3 million (an average of $11.70 per share). All shares repurchased under the program have been retired prior to the end of the fiscal year in which they were purchased. On August 28, 2024, the Board of Directors authorized an increase to the Company’s existing share repurchase program from the remaining $31.7 million up to $100 million under the Board of Director authorization. In 2024, we did not repurchase any further shares as part of this program. The table below presents information on the repurchase programs for the three most recent fiscal years.
|  | 2024 Purchases |  |  | 2023 Purchases |  |  | 2022 Purchases |
Number of shares repurchased |  |  | - |  |  |  | - |  |  |  | 187 |
Cost of shares repurchased |  | $ | - |  |  | $ | - |  |  | $ | 2,522 |
Average price paid per share |  | $ | - |  |  | $ | - |  |  | $ | 13.43 |

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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