Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
 3 Months Ended
Dec. 27, 2020
Equity [Abstract]  
Stockholders' Equity

Note 8 Stockholders’ Equity

 

Dividends

 

As of the three months ended December 27, 2020 and the twelve months ended September 27, 2020, there were no declared or outstanding dividends payable.

  

Common stock

 

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 ended December 27, 2020, there were 208,592 common shares repurchased through the program at a cost of $415 thousand. The shares have been returned to the Treasury. A summary of the purchases under the plan follows:

 

    (Thousands, except share and price per share data)  
Fiscal Period   Total number of shares purchased     Total purchase cost     Average price paid per share     Maximum dollar value that may yet be purchased under the plan  
May 24, 2020 through June 28, 2020     34,243     $ 63     $ 1.84     $ 937  
June 29, 2020 through July 26, 2020     6,806       13     $ 1.89       924  
July 27, 2020 through August 23, 2020     10,688       21     $ 1.96       903  
August 23, 2020 through September 27, 2020     53,996       103     $ 1.90       800  
                                 
Total shares repurchased as of September 27, 2020     105,733     $ 200     $ 1.89     $ 800  
                                 
September 28, 2020 through October 25, 2020     20,948       42     $ 2.01       758  
October 26, 2020 through November 22, 2020     129,245       265     $ 2.05       493  
November 23, 2020 through December 27, 2020     58,399       108     $ 1.86       385  
                                 
Total shares repurchased as of December 27, 2020     314,325     $ 615     $ 1.96     $ 385  

 

As of September 27, 2020, and December 27, 2020, the total outstanding common shares were 8,690,136 and 8,481,544, respectively. As of September 27, 2020, and December 27, 2020, there are 105,733 and 314,325 shares held in Treasury Stock, respectively.

 

As of September 27, 2020, and December 27, 2020, the total issued common shares were 8,795,869.