Note 5 - Stockholders' Equity

9 Months Ended

Nov. 30, 2014

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE 5 - STOCKHOLDERS’ EQUITY

Stock Repurchases

In 2014, the Board of Directors of the Company authorized a plan to purchase up to $3.0 million of the Company’s common stock in the open market or in private transactions, whenever deemed appropriate by management. Between July 15, 2014 and July 31, 2014, the Company repurchased 55,000 shares under the plan at an average price of $12.58 per share. Between September 26, 2014 and November 28, 2014, the Company repurchased 99,511 shares under the plan at an average price of $12.19 per share. As of November 30, 2014, approximately $1,095,000 remains available under the plan for further stock repurchases.

Cash Dividend

The Company paid a quarterly cash dividend of $0.11 per share of common stock on March 14, 2014 to shareholders of record on February 28, 2014. The Company paid a quarterly cash dividend of $0.11 per share of common stock on June 13, 2014 to shareholders of record on June 3, 2014. The Company paid a quarterly cash dividend of $0.11 per share of common stock on September 12, 2014 to shareholders of record on September 2, 2014.The Company declared a quarterly cash dividend of $0.11 per share of common stock on November 11, 2014 payable on December 12, 2014 to shareholders of record on November 28, 2014.

Future declaration of dividends will depend on, among other things, the Company's results of operations, capital requirements, financial condition and on such other factors as the Company's Board of Directors may in its discretion consider relevant and in the best long term interest of the shareholders.