Changes in Shareholders' Equity

9 Months Ended

Dec. 31, 2022

Equity [Abstract]

Changes in Shareholders' Equity

Changes in Shareholders’ Equity:

Changes in Shareholders’ Equity for the nine months ended December 31, 2022 is summarized below (in thousands):

	Common Stock		Additional Paid-In Capital		Retained Earnings
Beginning balance at March 31, 2022:	$	21	$	11,660	$	130,496
Share based compensation	—		1,536		—
Dividends declared	—		—		(6,297)
Net income	—		—		2,775
Ending balance at June 30, 2022	$	21	$	13,196	$	126,974
Shares Issued	—		—		—
Share based compensation	—		1,681		—
Dividends declared	—		—		(6,307)
Net income	—		—		2,579
Ending balance at September 30, 2022	$	21	$	14,877	$	123,246
Share based compensation	—		1,770		—
Dividends declared	—		—		$	(6,319)
Net income (loss)	—		—		(19)
Ending balance at December 31, 2022:	$	21	$	16,647	$	116,908

Changes in Shareholders’ Equity for the nine months ended December 31, 2021 is summarized below (in thousands):

	Common Stock		Additional Paid-In Capital		Retained Earnings
Beginning balance at March 31, 2021:	$	20	$	7,111	$	134,141
Share based compensation	—		718		—
Dividends declared	—		—		(6,080)
Net income	—		—		4,428
Ending balance at June 30, 2021	$	20	$	7,829	$	132,489
Shares Issued	1		—		—
Share based compensation	—		882		—
Dividends declared	—		—		(6,092)
Net income	—		—		6,349
Ending balance at September 30, 2021	$	21	$	8,711	$	132,746
Share based compensation	—		$	1,440	—
Dividends declared	—		—		(6,282)
Net income	—		—		4,257
Ending balance at December 31, 2021:	$	21	$	10,151	$	130,721

There were no shares of common stock that were purchased or retired in the nine months ended December 31, 2022 or 2021. At December 31, 2022, the Company had approximately $28.7 million remaining under the Company’s share repurchase plan.