Note 8 Stockholders’ Equity

Dividends

As of the three and nine months ended June 28, 2020 and the twelve months ended September 29, 2019, there were no declared or outstanding dividends payable.

Common stock

During the three and nine months ended June 28, 2020, there were 59,447 issues of common shares in settlement of the restricted stock units vesting on January 1, 2020 and 300,000 restricted shares issued to independent board members on April 30, 2020. As of September 29, 2019, and June 28, 2020, the total issued common shares were 8,436,422 and 8,795,869, respectively.

On June 8, 2020 the Company announced authorization for a $1 million stock repurchase program. The shares authorized to be repurchased under the new repurchase program may be purchased from time to time at prevailing market prices, through open market or in negotiated transactions, depending upon market conditions and subject to Rule 10b-18 as promulgated by the SEC. During the three months and nine months ended June 28, 2020, there were 34,243 common shares repurchased through the program at a cost of $64 thousand. The shares have been returned to the Treasury. As of September 29, 2019, and June 28, 2020, the total outstanding common shares were 8,436,422 and 8,761,626, respectively. As of and June 28, 2020, there are 34,243 shares held in Treasury Stock.