Note O - Stockholders' Equity

9 Months Ended

Dec. 29, 2024

Notes to Financial Statements

Equity [Text Block]

NOTE O– STOCKHOLDERS’ EQUITY

1. Dividends

On July 2, 2024, September 6, 2024 and December 6, 2024, the Company paid quarterly dividends of $0.50 per share. Through December 29, 2024, the Company paid quarterly dividends aggregating $6,127.

Effective February 6, 2025, the Board of Directors (the “Board”) declared its fourth quarterly cash dividend of $0.50 per share for fiscal 2025 payable on February 28, 2025 to stockholders of record as of the close of business on February 18, 2025.

Our ability to pay future dividends is limited by the terms of our Credit Agreement (as defined in NOTE P – LONG TERM DEBT). In addition to the terms of our Credit Agreement, the declaration and payment of any cash dividends in the future are subject to final determination of the Board and will be dependent upon our earnings and financial requirements.

2. Stock Repurchase Program

In 2016, the Board authorized increases to the sixth stock repurchase plan for the purchase of up to 1,200,000 shares of its common stock on behalf of the Company. As of December 29, 2024, Nathan’s had repurchased 1,101,884 shares at a cost of $39,000 under the sixth stock repurchase plan. At December 29, 2024 there were 98,116 shares remaining to be repurchased pursuant to the sixth stock repurchase plan. The plan does not have a set expiration date. Purchases under the Company’s stock repurchase program may be made from time to time, depending on market conditions, in open market or privately negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases.