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SUBSEQUENT EVENTS
9 Months Ended
Sep. 26, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 14 — SUBSEQUENT EVENTS

On September 29, 2020, the United States Bankruptcy Court for the Northern District of Alabama approved the Company’s offer to purchase certain of the assets used to manufacture Marlin firearms from Remington Outdoor Company, Inc. for $30 million in cash.

On September 30, 2020, the Company entered into the Second Amendment to Credit Agreement its bank, which extended the termination date of the Company’s line of credit agreement to September 30, 2021 and modified a financial covenant.

October 23, 2020, the Board of Directors authorized a dividend of 56¢ per share, for shareholders of record as of November 13, 2020, payable on November 27, 2020.

The Company has evaluated events and transactions occurring subsequent to September 26, 2020 and determined that there were no other unreported events or transactions that would have a material impact on the Company’s results of operations or financial position.