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Note 7 - Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

Note 7 – Stockholders’ Equity

 

Dividend

In the third quarter of 2020, we initiated the payment of a quarterly dividend. We intend to continue to pay a quarterly dividend, based on our business results and financial position. The following common share dividends were paid during 2021 and 2020:

 

Declaration date

  

Dividend

    

Total paid

  

September 1, 2020

   $ 0.05     $ 677,869  

December 1, 2020

     0.05       679,779  

March 1, 2021

     0.05       680,247  

June 1, 2021

     0.06       816,604  

September 1, 2021

     0.06       821,628  

December 1, 2021

     0.06       822,120  

 

Treasury Stock

Effective July 2020, our Board of Directors authorized a one-year repurchase plan for up to 1 million shares of our common stock. During the year ended December 31, 2020, we purchased 23,638 shares of our common stock at an aggregate cost of approximately $146,000 resulting in an average price of $6.20 per share. These shares are held in treasury. We have not purchased any shares of our common stock during 2021.

 

The table below summarized our common stock purchased during 2020 in more detail:

 

   

Total shares purchased

    

Average price per share

     Total number of shares purchased as part of publicly announced plan     Approximate dollar value of shares that may be purchased under the plan  

July, 2020

     675     $ 6.21       675     $ 1,200,000  

August, 2020

     22,963       6.20       23,638       1,000,000  

Total

     23,638                          

 

Additionally, there were 16,785 restricted shares that did not meet the vesting criteria. These shares are also held in treasury.

 

Issuance of Common Stock

In October 2021, we issued 4,166 shares of stock pursuant to the exercise of common stock options with a strike price of $8.04 for a total purchase price of $33,495.