SHARE REPURCHASE PROGRAMS

12 Months Ended

Oct. 31, 2024

SHARE REPURCHASE PROGRAMS [Abstract]

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