Note 13 - Treasury Stock and Repurchase Program

12 Months Ended

Apr. 30, 2019

Notes to Financial Statements

Treasury Stock [Text Block]

Note

13

- Treasury Stock and Repurchase Program:

On

October 19, 2018,

the Company's Board of Directors approved a share repurchase program authorizing the repurchase of shares of the Company’s common stock up to an aggregate purchase price of

$2,000,000.

  The repurchases

may

be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, in block purchases or otherwise. The repurchase program

may

be suspended or discontinued at any time at the Company’s discretion and has

no

set expiration date.

Treasury stock, at cost, consists of the following:

($ in thousands except for cost per share)	Shares		Cost Assigned		Average Cost per Share		Aggregate Purchase Price Remaining Under the Program
Balance as of April 30, 2016 (1)		243,411	$	3,040	$	12.49	$	1,350
Purchases effected in open market (2)		44,924	$	741	$	16.51	$	609
Balance as of April 30, 2017		288,335	$	3,781	$	13.11	$	609
Purchases effected in open market (2)		20,045	$	354	$	17.67	$	255
Balance as of April 30, 2018		308,380	$	4,135	$	13.41	$	-
Purchases effected in open market (2) (3)		28,059	$	608	$	21.68	$	1,438
Balance as of April 30, 2019		336,439	$	4,743	$	14.10	$	1,438

(

1

) Included

85,219

shares with a total average cost of

$1,036,000

that were acquired during the former repurchase program, which was authorized in

January 2011

and expired in

January 2012; 

18,400

shares were acquired prior to the repurchase program authorized in

January 2011.  

(

2

) Were acquired during the

$3

million repurchase program authorized in

September 2012.  

(

3

)  Were acquired during the

$2

million repurchase program authorized in

October 2018.