Note 15 - Subsequent Events

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE 15. Subsequent Events

Dividends and dividend equivalents. In May 2025, the Board approved a quarterly dividend of $0.04 per share of common stock outstanding which will result in a total of approximately $5.0 million in dividends to be paid in June 2025. In addition, under the terms of the LTIP, the Company will pay a dividend equivalent per share to all vested stock option holders of approximately $531,000 in June 2025. In addition, the Company will accrue an additional combined $86,000 in dividends on the restricted stock issued to directors, management directors and certain employees that will be payable upon vesting.

Natural gas derivative instruments. In April 2025, the Company entered into the following additional natural gas derivative instruments.

Settlement Month	Settlement Year		Type of Contract		MMBtu Per Day		Index		Price per MMBtu
Natural Gas:
Jan – Mar		2026		Swap		10,333		HH	$	4.30
Apr – Jun		2026		Swap		30,000		HH	$	4.30
Jul – Sep		2026		Swap		30,000		HH	$	4.30
Oct – Dec		2026		Swap		30,000		HH	$	4.30
Jan – Mar		2027		Swap		19,667		HH	$	4.30