Stockholders' Equity

12 Months Ended

Jun. 30, 2024

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 15. Stockholders' Equity

Reservation of Shares

The Company has reserved common shares for future issuance as follows as of June 30, 2024:

Stock options outstanding	322,056
Stock options available for issuance	80,969
Number of common shares reserved	403,025

The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for continuing operations for the years ended June 30:

	2024			2023
Numerator:
Net income	$	5,815,140		$	3,677,131
Denominator:
Basic EPS:
Common shares outstanding, beginning of period		2,702,633			2,702,633
Unearned ESOP shares		(233,645	)		(256,293	)
Weighted average common shares issued during the period		11,837			—
Weighted average ESOP shares earned during the period		8,340			8,516
Denominator for basic earnings per common shares –
Weighted average common shares		2,489,165			2,454,856
Diluted EPS:
Common shares outstanding, beginning of period		2,702,633			2,702,633
Unearned ESOP shares		(233,645	)		(256,293	)
Weighted average common shares issued during the period		11,837			—
Weighted average ESOP shares earned during the period		8,340			8,516
Weighted average dilutive effect of stock options		47,802			16,160
Denominator for diluted earnings per common shares –
Weighted average common shares		2,536,967			2,471,016

Not included in this computation of earnings per share for the year ended June 30, 2024 and 2023 were options to purchase 62,691 and 130,656 shares, respectively, of the Company’s common stock. These options were excluded because their inclusion would have been anti-dilutive due to the average strike price exceeding the average market price of those shares.

Effective March 13, 2023, the Company reinstated payment of a quarterly dividend. The Company paid regular cash dividends on common stock of $0.675 per share for the fiscal year ended June 30, 2024 and paid regular cash dividends on common stock of $0.20 per share for the fiscal year ended June 30, 2023. Our Board of Directors assesses the Company’s dividend policy periodically. There is no assurance that the Board of Directors will maintain the amount of the regular cash dividend during any future years.