Annual report pursuant to Section 13 and 15(d)

Note 10 - Shareholders' Equity

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Note 10 - Shareholders' Equity
 12 Months Ended
Apr. 01, 2018
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
$0.32,
$0.72
and
$0.57
per share, amounting to
$3.2
million,
$7.2
million and
$5.7
million, were declared during fiscal years
2018,
2017
and
2016,
respectively. The dividends declared during fiscal years
2017
and
2016
included special cash dividends of
$0.40
and
$0.25
per share, respectively. 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
7,000
treasury shares during the fiscal year ended
April 1, 2018
at a weighted-average market value of
$8.10
per share, acquired
99,000
treasury shares during the fiscal year ended
April 2, 2017
at a weighted-average market value of
$9.58
per share and acquired
337,000
treasury shares during the fiscal year ended
April 3, 2016
at a weighted-average market value of
$8.41
per share.