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Note R - Subsequent Events
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Subsequent Events [Text Block]

R.   SUBSEQUENT EVENTS

The Company evaluates events that occur through the filing date and discloses any material or significant events or transactions. 

 

On February 7, 2025, the Company replaced its $10,000,000 line of credit with a $50,000,000 revolving line of credit. Under the new agreement, the interest rate on the line of credit will reset monthly to the 30-day SOFR plus one-and-one-quarter percent.

 

On February 21, 2025, the Company’s Board of Directors announced a regular dividend of $1.00 per share, payable on March 17, 2025, to stockholders of record as of March 4, 2025. 

 

On March 1, 2025, the Company experienced a system outage caused by a cybersecurity incident. Upon discovery, the Company activated its incident response team, comprised of internal personnel and external cybersecurity experts retained to assist in addressing the incident. While the full scope of the impact is not yet known, the incident could have the potential to have a material impact on the Company’s financial condition and results of operations. The Company is continuing its forensic investigation and analysis to assess the potential impact.