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Note P - Subsequent Events
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE P:  SUBSEQUENT EVENTS

On July 13, 2021, the Company’s Board of Directors declared a 2-for-1 forward stock split of its common stock in the form of a 100% stock dividend, payable on August 16, 2021, to stockholders of record on July 30, 2021. Under the terms of the stock split, the Company’s stockholders will receive a dividend of one share for every share held on the record date. The dividend will be paid in authorized but unissued shares of common stock of the Company. The additional shares will be distributed by the Company’s transfer agent, Computershare, and the per share price of the Company’s common stock will adjust accordingly on The Nasdaq Stock Market.

 

On July 27, 2021, the Company announced the commencement of a modified “Dutch auction” tender offer to purchase up to 200,000 shares (as adjusted for the Company’s previously announced 2-for-1 forward split of its common stock in the form of a 100% stock dividend), or about 1.7%, of its outstanding common stock at a price of not less than $32.00 and not more than $37.00 per share (as adjusted for the Stock Split). The tender offer will expire at 5:00 p.m., Eastern Time, on August 26, 2021, unless extended or withdrawn.