Annual report pursuant to Section 13 and 15(d)

Note 10 - Shareholders' Equity

v3.20.1
Note 10 - Shareholders' Equity
 12 Months Ended
Mar. 29, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
Note
10
– S
hare
holders’ Equity
 
Dividends:
The holders of shares of the Company’s common stock are entitled to receive dividends when and as declared by the Board. Aggregate cash dividends of
$0.57
and
$0.32
per share, amounting to
$5.8
million and
$3.2
million, were declared during fiscal years
2020
and
2019,
respectively. Cash dividends declared during fiscal year
2020
included a special cash dividend of
$0.25
per share. The Company’s financing agreement with CIT permits the payment by the Company of cash dividends on its common stock without limitation, provided there is
no
default before or as a result of the payment of such dividends.
 
Stock Repurchases:
The Company acquired treasury shares by way of the surrender to the Company from several employees shares of common stock to satisfy the income tax withholding obligations relating to the vesting of stock. In this manner, the Company acquired
12,000
treasury shares during the fiscal year ended
March 29, 2020
at a weighted-average market value of
$6.63
per share and acquired
16,000
treasury shares during the fiscal year ended
March 31, 2019
at a weighted-average market value of
$5.87
per share.