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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2023
Subsequent Events  
SUBSEQUENT EVENTS

NOTE 26 SUBSEQUENT EVENTS

 

Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. Management has reviewed events occurring through the date the financial statements were available to be issued and has identified the following as a non-recognized subsequent event.

 

On February 28, 2024, the Board of Directors declared a dividend of $0.07 per share payable March 29, 2024 to shareholders of record as of March 15, 2024.

 

On February 28, 2024, the Board of Directors authorized the continuation of the Company’s repurchase of up to 500,000 shares of its common stock through March 31, 2025. This is a continuation of the repurchase program originally announced April 28, 2022, which was set to expire March 31, 2024. To the date of this announced continuation, 189,970 shares have been repurchased at an average price of $2.33 per share, leaving 310,030 shares available for repurchase. Repurchases made through this program will be made through open market purchases or in privately negotiated transactions.