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Note 10 - Stockholders' Equity
 3 Months Ended
Nov. 30, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

10.

STOCKHOLDERS’ EQUITY

 

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, the Company did not declare a cash dividend during the three months ended November 30, 2020. However, on January 15, 2021, the Company announced the reinstatement of its quarterly cash dividend. On October 20, 2021, the Company’s Board of Directors declared a cash dividend of $0.07 per share of the Company’s common stock on, payable on November 17, 2021 to stockholders of record on November 3, 2021.

 

During the three months ended November 30, 2021 and 2020, the Company repurchased no shares of its common stock.

 

During the three months ended November 30, 2021, the Company granted stock options under the Northern Technologies International Corporation 2019 Stock Incentive Plan (the 2019 Plan) to purchase an aggregate of 174,840 shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is $16.97. The exercise price of the stock options is equal to the fair market value of the Company’s common stock on the date of grant. During the three months ended November 30, 2021, 16,000 stock options to purchase common stock were exercised at a weighted average exercise price of $8.70.

 

During the three months ended November 30, 2020, the Company granted stock options under the 2019 Plan to purchase an aggregate of 419,874 shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is $8.24. The exercise price of the stock options is equal to the fair market value of the Company’s common stock on the date of grant. During the three months ended November 30, 2020, no stock options to purchase common stock were exercised.

 

The Company issued 2,636 and 4,646 shares of common stock on September 1, 2021 and 2020, respectively, under the Northern Technologies International Corporation Employee Stock Purchase Plan (the ESPP). As of November 30, 2021, 72,186 shares of common stock remained available for sale under the ESPP.