STOCKHOLDERS’ EQUITY

June 3, 2019,

the Company’s Board of Directors declared a

two

-for-

one

stock split of the Company’s common stock effected in the form of a

100%

share dividend distributed on

June 28, 2019

to record holders as of

June 17, 2019.

All share and per share values have been adjusted to retroactively reflect the effect of the

two

-for-

one

stock split.

During fiscal

2019,

the Company’s Board of Directors declared cash dividends on the following dates in the following amounts to the following holders of the Company’s common stock. All per share data have been adjusted for all periods presented to reflect the

two

-for-

one

stock split effective

June 28, 2019.

Declaration Date	Amount	Record Date	Payable Date
October 24, 2018	$0.06	November 7, 2018	November 21, 2018
January 23, 2019	$0.06	February 6, 2019	February 22, 2019
April 25, 2019	$0.06	May 9, 2019	May 23, 2019
July 24, 2019	$0.06	August 7, 2019	August 21, 2019

During fiscal

2018,

the Company’s Board of Directors declared cash dividends on the following dates in the following amounts to the following holders of the Company’s common stock:

Declaration Date	Amount	Record Date	Payable Date
November 20, 2017	$0.05	December 8, 2017	December 21, 2017
January 24, 2018	$0.05	February 7, 2018	February 21, 2018
April 25, 2018	$0.05	May 9, 2018	May 23, 2018
July 25, 2018	$0.05	August 8, 2018	August 22, 2018

January 15, 2015,

the Company’s Board of Directors authorized the repurchase of up to

$3,000,000

in shares of common stock through open market purchases or unsolicited or solicited privately negotiated transactions. This program has

expiration date but

may

be terminated by the Company’s Board of Directors at any time. As of

August 31, 2019,

up to

$2,640,548

in shares of common stock remained available for repurchase under the stock repurchase program.

During fiscal

2019,

the Company did

not

repurchase or retire any shares of its common stock. During fiscal

2019,

stock options to purchase shares of common stock were exercised.

During fiscal

2018,

the Company did

not

repurchase or retire any shares of its common stock. During fiscal

2018,

stock options to purchase an aggregate of

12,814

shares of common stock were exercised at a weighted average exercise price of

$5.80

per share. Some of the shares were cashless exercises, resulting in the issuance of

8,820

net shares.