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Stockholders' Equity
 12 Months Ended
Mar. 31, 2012
Stockholders' Equity  
Stockholders' Equity

7.  Stockholders’ Equity

 

Colorado corporations may not retain treasury stock.  In the most recent fiscal year, management estimated that approximately 10% of the price paid for repurchased shares was attributable to the original purchase of common stock, while the remainder was charged to retained earnings.

 

In November, 2005, our Board of Directors approved a program to repurchase up to 300,000 shares of our outstanding common stock. Under the program, shares may be purchased from time to time in the open market at prevailing prices or in negotiated transactions off the market. Shares purchased will be cancelled and repurchases of shares will be funded through existing cash reserves.

 

Dividends per share paid by quarter were as follows:

 

 

 

Fiscal

 

 

 

2012

 

2011

 

First quarter

 

$

0.12

 

$

0.11

 

Second quarter

 

0.12

 

0.11

 

Third quarter

 

0.13

 

0.12

 

Fourth quarter

 

0.13

 

0.12