XML 31 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Stockholders' equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity [Abstract]  
Stockholders' equity

Note 9 – Stockholders’ equity:

​

​

​

​

​

​

​

​

​

​

Shares of common stock

​

    

Issued

    

Treasury

​

Outstanding

​

​

​

​

​

 

​

Balance at December 31, 2021

 

12,380,657

 

—

​

12,380,657

Issued

 

5,400

 

—

​

5,400

Acquired

​

—

​

(78,900)

​

(78,900)

Retired

​

(78,900)

​

78,900

​

—

Balance at December 31, 2022

 

12,307,157

 

—

​

12,307,157

Issued

 

6,600

 

—

​

6,600

Balance at December 31, 2023

 

12,313,757

 

—

​

12,313,757

Issued

 

4,800

 

—

​

4,800

Balance at December 31, 2024

 

12,318,557

 

—

​

12,318,557

​

Share repurchases and cancellations. Prior to 2022, our board of directors authorized various repurchases of shares of our Class A common stock in open market transactions, including block purchases, or in privately-negotiated transactions at unspecified prices and over an unspecified period of time. We may repurchase our common stock from time to time as market conditions permit. The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on market conditions, we may terminate the program prior to its completion. We will generally use cash on hand to acquire the shares. Repurchased shares will be added to our treasury and cancelled. During 2022, we acquired 78,900 shares of our Class A common stock for an aggregate amount of approximately $1.7 million under prior repurchase authorizations. Of these shares, 70,000 shares were purchased in a market transaction, and 8,900 shares were purchased from two of our affiliates in two separate private transactions that were also approved in advance by our independent directors. We cancelled these treasury shares and allocated their costs to common stock at par value and additional paid-in-capital. We made no treasury purchases during 2023 or 2024. At December 31, 2024, 523,647 shares were available for purchase under these authorizations.

Incentive compensation plan. We have a share-based incentive compensation plan pursuant to which an aggregate of up to 200,000 shares of our Class A common stock can be awarded to non-employee members of our board of directors. All of the Class A common shares we issued in 2022, 2023 and 2024 were issued under this plan. At December 31, 2024, 119,650 shares were available for award under this plan.

Dividends. We paid regular quarterly dividends of $.25 per share during 2022 and 2023 and $.30 per share during 2024. Additionally, cash dividends also include a $1.75 per share special dividend in 2022 and a $2.00 per share special dividend in 2024. Declaration and payment of future dividends and the amount thereof, if any, is discretionary and

dependent upon our results of operations, financial condition, cash requirements for our businesses, contractual requirements and restrictions and other factors deemed relevant by our board of directors.