Annual report pursuant to Section 13 and 15(d)

Note 9 - Stockholders' Equity

v2.4.1.9
Note 9 - Stockholders' Equity
 12 Months Ended
Mar. 29, 2015
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
Note 9
– Stockholders’ Equity
 
Dividends:
The holders of the Company’s common stock are entitled to receive dividends when and as declared by the Board. Aggregate cash dividends of $0.32 per share, amounting to $3.2 million, were declared during each of fiscal years 2015 and 2014. 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 exercise price and income tax withholding obligations relating to the exercise of stock options and the vesting of stock. In this manner, the Company acquired 32,000 treasury shares during the fiscal year ended March 29, 2015 at a weighted-average market value of $7.57 per share and acquired 65,000 treasury shares during the fiscal year ended March 30, 2014 at a weighted-average market value of $7.07 per share.