Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.21.1
Stockholders' Equity
 6 Months Ended
Mar. 28, 2021
Equity [Abstract]  
Stockholders' Equity

Note 8 Stockholders’ Equity

 

Dividends

 

As of the six months ended March 28, 2021 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 six months ended March 28, 2021, there were 374,934 common shares repurchased through the program at a cost of $730 thousand. As of March 28, 2021, the Company has repurchased 480,667 shares at a total cost of $930 thousand against the stock repurchase plan, with a remaining balance of $70 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 (with commission)     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       109       1.86       384  
December 28, 2020 through January 24, 2021     40,362       73       1.80       312  
January 25, 2021 through February 21, 2021     52,180       101       1.94       211  
February 22, 2021 through March 28, 2021     73,800       140       1.90       70  
                                 
Total shares repurchased as of March 28, 2021     480,667     $ 930     $ 1.93     $ 70  

 

As of September 27, 2020, and March 28, 2021, the total outstanding common shares were 8,690,136 and 8,373,594, respectively.

 

As of September 27, 2020, and March 28, 2021, the total issued common shares were 8,795,869 and 8,854,261.