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Subsequent Events
 9 Months Ended
Mar. 31, 2022
Subsequent Events  
Subsequent Events

Note 12: Subsequent Events

On April 28, 2022, the Corporation announced that the Corporation’s Board of Directors declared a quarterly cash dividend of $0.14 per share. Shareholders of the Corporation’s common stock at the close of business on May 19, 2022 are entitled to receive the cash dividend. The cash dividend will be payable on June 9, 2022.

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On April 28, 2022, the Corporation announced that its Board of Directors authorized the repurchase of up to five percent (5%) of the Corporation’s common stock, approximately 364,259 shares. The Corporation will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the Corporation, and available cash that can be allocated to the stock repurchase program, among other considerations. The April 2022 stock repurchase plan became effective on April 28, 2022 and will continue for a period of one year or until completed, whichever occurs first.

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