Note 6 - Changes in Shareholders' Equity

6 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note 6: Changes in Shareholders’ Equity

Changes in shareholders’ equity for the six months ended September 30, 2020 and 2019 are summarized below (in thousands):

	Additional
	Paid-In		Retained
	Capital		Earnings
Beginning balance at March 31, 2020:	$	3,804	$	126,177
Share based compensation		740		-
Dividends declared		-		(5,647	)
Net income		-		7,768
Ending balance at June 30, 2020:	$	4,544	$	128,298
Share based compensation		773		-
Dividends declared		-		(5,647	)
Net income		-		8,412
Ending balance at September 30, 2020:	$	5,317	$	131,063

	Additional
	Paid-In			Retained
	Capital			Earnings
Beginning balance at March 31, 2019:	$	12,478		$	122,172
Share based compensation		635			-
Dividends declared		-			(5,518	)
Repurchase and retirement of common stock		(11,496	)		-
Net income		-			5,343
Ending balance at June 30, 2019:	$	1,617		$	121,997
Share based compensation		730			-
Dividends declared		-			(5,447	)
Net income		-			6,665
Ending balance at September 30, 2019:	$	2,347		$	123,215

During the six months ended September 30, 2019, the Company purchased and retired approximately 613,000 shares of its common stock for approximately $11.5 million. There were no shares of common stock that were purchased or retired in the six months ended September 30, 2020. At September 30, 2020, the Company had approximately $28.7 million remaining under the Company’s share repurchase plan.