Note N - Stockholders' Equity

3 Months Ended

Jun. 30, 2019

Stockholders' Equity Note Disclosure [Text Block]

NOTE N– STOCKHOLDERS’ EQUITY

1.	Dividend s

Effective

June 14, 2019,

the Board declared its

first

quarterly cash dividend of

$0.35

per share for fiscal year

2020,

aggregating

$1,479,000,

which was paid on

June 28, 2019

to stockholders of record as of the close of business on

June 24, 2019.

Effective

August 9, 2019

the Board declared its

second

quarterly cash dividend of

$0.35

per share payable on

September 6, 2019

to stockholders of record as of the close of business on

August 26, 2019.

Our ability to pay future dividends is limited by the terms of the Indenture with U.S. Bank National Association, as trustee and collateral trustee (see Note O). In addition to the terms of the Indenture, the declaration and payment of any cash dividends in the future are subject to final determination of the Board and will be dependent upon our earnings and financial requirements.

2.	Stock Repurchase Programs

During the period from

October 2001

through

June 30, 2019,

Nathan’s purchased

5,141,763

shares of common stock at a cost of approximately

$78,303,000

pursuant to various stock repurchase plans previously authorized by the Board of Directors. During the

thirteen

-week period ended

June 30, 2019,

we did

not

repurchase any shares of common stock.

2016,

the Company’s Board of Directors authorized increases to the

sixth

stock repurchase plan for the purchase of up to

1,200,000

shares of its common stock on behalf of the Company. As of

June 30, 2019,

Nathan’s had repurchased

954,132

shares at a cost of

$30,641,000

under the

sixth

stock repurchase plan. At

June 30, 2019,

there were

245,868

shares remaining to be repurchased pursuant to the

sixth

stock repurchase plan. The plan does

not

have a set expiration date. Purchases under the Company’s stock repurchase program

may

be made from time to time, depending on market conditions, in open market or privately-negotiated transactions, at prices deemed appropriate by management. There is

set time limit on the repurchases.