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Note 8 - Stockholders' Equity
 12 Months Ended
Aug. 31, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

8.         STOCKHOLDERS’ EQUITY

 

During fiscal 2021, NTIC’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of the Company’s common stock as of the following record dates:

 

Declaration Date

 

Amount

 

Record Date

 

Payable Date

January 15, 2021

 $0.065 

February 3, 2021

 

February 17, 2021

April 23, 2021

 $0.065 

May 5, 2021

 

May 19, 2021

July 21, 2021

 $0.065 

August 4, 2021

 

August 18, 2021

 

During fiscal 2020, NTIC’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of the Company’s common stock as of the following record dates:

 

Declaration Date

 

Amount

 

Record Date

 

Payable Date

October 22, 2019

 $0.065 

November 6, 2019

 

November 20, 2019

January 22, 2020

 $0.065 

February 5, 2020

 

February 19, 2020

 

On April 23, 2020, the Company announced the temporary suspension of its quarterly cash dividend pending clarity on the financial impact of COVID-19 on the Company. Therefore, NTIC’s Board of Directors did not declare a cash dividend during the quarter ended May 31, 2020, the quarter ended August 31, 2020, or the quarter ended November 30, 2020. On January 15, 2021, the Company announced the reinstatement of its quarterly cash dividend.

 

On January 15, 2015, the Company’s Board of Directors authorized the repurchase of up to $3,000,000 in shares of common stock through open market purchases or unsolicited or solicited privately negotiated transactions. This program has no expiration date but may be terminated by the Company’s Board of Directors at any time. As of August 31, 2021, up to $2,640,548 of value in shares of common stock remained available for repurchase under the stock repurchase program.

 

During fiscal 2021, the Company did not repurchase or retire any shares of its common stock. During fiscal 2021, stock options to purchase an aggregate of 77,645 shares of common stock were exercised at a weighted average exercise price of $8.18 per share; some of the options were exercised on a cashless basis, resulting in the net issuance of 74,950 shares of common stock.

 

During fiscal 2020, the Company did not repurchase or retire any shares of its common stock. During fiscal 2020, stock options to purchase an aggregate of 11,975 shares of common stock were exercised at a weighted average exercise price of $5.13 per share; some of the options were exercised on a cashless basis, resulting in the net issuance of 6,823 shares of common stock.