XML 28 R15.htm IDEA: XBRL DOCUMENT v3.4.0.3
Note 7 - Stockholders' Equity
 12 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
Note
7.
Stockholders' Equity
 
Under applicable law, Colorado corporations are not permitted to retain treasury stock. The price paid for repurchased shares is allocated between common stock and retained earnings, based on management’s estimate of the original sales price of the underlying shares.
 
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 of common stock may be purchased from time to time in the open market at prevailing prices or in negotiated transactions off the market. Shares of common stock purchased will be cancelled and repurchases of shares of common stock will be funded through existing cash reserves. As of March 31, 2016, we have purchased 162,486 shares under this plan.
 
Dividends per share paid by quarter were as follows:
 
 
 
Year E
nded March 31,
 
 
 
2016
 
 
201
5
 
 
201
4
 
First quarter
   $ 0.16     $ 0.15     $ 0.14  
Second quarter
     0.16       0.15       0.14  
Third quarter
     0.16       0.16       0.15  
Fourth quarter
     0.16       0.16       0.15