NOTE 15 – COMMON STOCK

As of June 30, 2018, the Company’s authorized common stock consists of 1,300 million shares of Class A Common Stock, par value $.01 per share, and 304 million shares of Class B Common Stock, par value $.01 per share. Class B Common Stock is convertible into Class A Common Stock, in whole or in part, at any time and from time to time at the option of the holder, on the basis of one share of Class A Common Stock for each share of Class B Common Stock converted. Holders of the Company’s Class A Common Stock are entitled to one vote per share and holders of the Company’s Class B Common Stock are entitled to ten votes per share.

Information about the Company’s common stock outstanding is as follows:

(Shares in thousands)	Class A		Class B
Balance at June 30, 2015	227,836.2		147,046.1
Acquisition of treasury stock	(10,534.4	)	—
Conversion of Class B to Class A	2,275.9		(2,275.9	)
Stock-based compensation	3,411.9		—

Balance at June 30, 2016	222,989.6		144,770.2
Acquisition of treasury stock	(4,694.8	)	—
Conversion of Class B to Class A	1,007.9		(1,007.9	)
Stock-based compensation	5,038.5		—

Balance at June 30, 2017	224,341.2		143,762.3
Acquisition of treasury stock	(6,045.4	)	—
Conversion of Class B to Class A	710.6		(710.6	)
Stock-based compensation	5,087.4		—

Balance at June 30, 2018	224,093.8		143,051.7

The Company is authorized by the Board of Directors to repurchase Class A Common Stock in the open market or in privately negotiated transactions, depending on market conditions and other factors. As of June 30, 2018, the remaining authorized share repurchase balance was 9.0 million shares.

The following is a summary of cash dividends declared per share on the Company’s Class A and Class B Common Stock during the year ended June 30, 2018:

Date Declared	Record Date	Payable Date	Amount per Share

August 17, 2017	August 31, 2017	September 15, 2017	$.34
October 31, 2017	November 30, 2017	December 15, 2017	$.38
February 1, 2018	February 28, 2018	March 15, 2018	$.38
May 1, 2018	May 31, 2018	June 15, 2018	$.38

On August 17, 2018, a dividend was declared in the amount of $.38 per share on the Company’s Class A and Class B Common Stock. The dividend is payable in cash on September 17, 2018 to stockholders of record at the close of business on August 31, 2018.