STOCKHOLDERS' EQUITY

9 Months Ended

Oct. 31, 2015

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

9. STOCKHOLDERS’ EQUITY

Issuance of Common Stock

On January 22, 2015, the Company closed an offering of 2,000,000 shares of Class A common stock. The net proceeds to the Company from the sale of the stock were $37.0 million after deducting underwriting discounts and commissions and offering expenses. On February 18, 2015 the offering underwriters exercised in full an option to purchase additional shares. As a result, 450,000 shares of Class A common stock were issued generating approximately $8.4 million in additional net proceeds.

Dividends

The following table sets forth the dividends that were declared by the Company during the first nine months of fiscal 2016:

Declaration Date	Record Date	Payable	Dividend Class A		Dividend Class B		Amount
9/9/2015	9/23/2015	9/30/2015	$	0.072	$	0.06	$	1,313,000
6/9/2015	6/23/2015	6/30/2015	$	0.072	$	0.06	$	1,310,000
4/15/2015	4/29/2015	5/6/2015	$	0.072	$	0.06	$	1,299,000