STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 31, 2025

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

NOTE 14 – STOCKHOLDERS’ EQUITY

On September 17, 2024, Argan’s board of directors increased the Company’s quarterly cash dividend by 25% from $0.30 to $0.375 per share of common stock. During Fiscal 2025 and Fiscal 2024, the Company paid quarterly dividends to stockholders as follows:

		Amount Per
Record Date	Payment Date	Share
January 23, 2025	January 31, 2025	$	0.375
October 23, 2024	October 31, 2024		0.375
July 23, 2024	July 31, 2024		0.300
April 22, 2024	April 30, 2024		0.300
January 23, 2024	January 31, 2024		0.300
October 23, 2023	October 31, 2023		0.300
July 21, 2023	July 31, 2023		0.250
April 20, 2023	April 28, 2023		0.250

Pursuant to its established program and authorizations provided by Argan’s board of directors, the Company began to repurchase shares of its common stock in November 2021. During Fiscal 2025, the Company repurchased 17,551 shares of common stock, all on the open market, for an aggregate price of approximately $1.5 million, or $86.78 per share. During Fiscal 2024, the Company repurchased 230,160 shares of common stock, all on the open market, for an aggregate price of approximately $9.2 million, or $40.01 per share, and the Company repurchased 73,000 shares of common stock in a direct purchase from a director of the Company for an aggregate price of approximately $3.2 million, or $43.50 per share. During Fiscal 2023, the Company repurchased 1,855,714 shares of common stock for an aggregate price of approximately $68.2 million, or $36.77 per share.

In August 2022, the Inflation Reduction Act was signed into law, which introduced a 1% excise tax on shares repurchased after December 31, 2022. For Fiscal 2025, Fiscal 2024 and Fiscal 2023, the excise tax was not material.