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Note 10 - Dividends
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9 Months Ended |
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Jun. 30, 2012
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| Dividends Payable, Nature |
Note
10 – Dividends
During
fiscal 2010, the Company commenced paying quarterly
cash dividends. Since then, the Company’s Board
of Directors has declared and paid ten consecutive
quarterly cash dividends; nine of which were paid at
the rate of $0.05 per share, and one at the increased
rate of $0.06 per share (a 20% increase over the
previous quarterly dividend rate of $0.05), which
totaled approximately $1 .7 million and was paid
on May 7, 2012. The Company paid cash dividends
of approximately $4.5 million during the nine months
ended June 30, 2012 and $4.2 million during the nine
months ended June 30, 2011.
On
July 12, 2012, the Company’s Board of Directors
declared a quarterly cash dividend of $0.06 per
share. The Company will pay, from its cash on
hand, approximately $1.7 million pursuant to the
dividend on August 8, 2012, to stockholders of record
as of August 1, 2012.
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