Share Repurchase Programs

6 Months Ended

Dec. 31, 2019

Equity [Abstract]

Share Repurchase Programs

Note 16. Share Repurchase Programs

In August 2014, the Company’s Board of Directors authorized the Company to purchase up to $50 million of its Common Stock through a share repurchase program (the “Program”) that calls for shares to be purchased in the open market or in private transactions from time to time. The Program has no expiration and may be suspended or discontinued at any time. Shares purchased by the Company are retained as treasury stock and available for general corporate purposes.  During the three and six months ended December 31, 2019, the Company purchased 50,000 shares of its common stock for $1.6 million under this program.  Through December 31, 2019, the Company has cumulatively purchased 1,416,587 shares of its Common Stock pursuant to the Program for approximately $22.3 million.