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Note M - Subsequent Events
6 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]

M. Subsequent Event

 

On January 14, 2022, the Board of Directors authorized an additional $3.0 million increase to the Repurchase Plan, thus bringing the total authorized repurchase amount to $18.0 million. Under the Repurchase Plan, we may, from time to time, purchase shares of our common stock, depending upon market conditions, in open market or privately negotiated transactions.

 

On February 8, 2022, we entered into a second amendment to our credit facility with Wells Fargo that is effective January 31, 2022 and modifies the annual limit imposed upon the company’s ability to repurchase stock are issue dividends.  This amendment increased this limit from $5.0 million annually to $7.0 million annually.