Culp Stock Repurchase Plan
- In fiscal 2012 and 2013, the company repurchased 1.1 million shares of Culp common stock at a value of $10.4 million.
- No shares were repurchased in fiscal 2014.
- We repurchased 43,014 shares for approximately $745,000 in fiscal 2015.
- We repurchased 100,776 shares for approximately $2.4 million in fiscal 2016.
- In June 2016, the Board of Directors approved an increase in the authorization for the company to acquire its common stock back to a total of $5.0 million
- No shares were repurchased in fiscal 2017 or 2018.
- The company has repurchased 160,000 shares during the first nine months of fiscal 2019.
- Since 2012, we have repurchased approximately 10 percent of our outstanding shares
- We repurchased 160,823 shares for approximately $3.3 million in fiscal 2019.
- In September 2019, the Board of Directors approved an increase in the authorization for the company to acquire its common stock back to a total of $5.0 million.
- We repurchased 142,496 shares for approximately $1.7 million in fiscal 2020. The Board of Directors subsequently approved an increase in the authorization for the company to acquire its common stock back to a total of $5.0 million in March 2020.
- No shares were repurchased in fiscal 2021
- We repurchased 121,688 shares for approximately $1.8 million in fiscal 2022.
- No shares were repurchased in fiscal 2023.
- We did not repurchase any shares during the first quarter of fiscal 2024.
- As of the end of the first quarter of fiscal 2024, $3.2 million is available for additional repurchases of our common stock. Despite the current share repurchase authorization, the company does not expect to repurchase any shares through at least the second quarter of fiscal 2024.