Information Services Group Inc. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS ​ Dividend Program ​ In May 2023, the Company announced it will pay a quarterly dividend of $0.045 per share of common stock. The Company expects to pay a total cash dividend of $0.18 per share for the four quarters ending June 30, 2024. On August 1, 2023, the Board approved a third-quarter dividend of $0.045 per share, which was paid on September 28, 2023, to shareholders of record as of September 6, 2023. On November 1, 2023, the Board approved a fourth-quarter dividend of $0.045 per share, payable December 20, 2023, to shareholders of record as of December 5, 2023. The dividends are accounted for as a decrease to Stockholders’ Equity. All future dividends will be subject to the Board’s approval. ​ Issuer Purchases of Equity Securities ​ On August 1, 2023, the Board approved a new share repurchase authorization of an additional $25.0 million. The new share repurchase program will take effect upon completion of the Company’s current program, which had approximately $2.7 million remaining as of October 1, 2023. The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, pursuant to a Rule 10b5-1 repurchase plan or by other means in accordance with federal securities laws. The timing, the amount and the method of any repurchases will be determined by the Company’s management based on its evaluation of market conditions, capital allocation alternatives and other factors. There is no guarantee as to the number of shares that will be repurchased, and the repurchase program may be extended, suspended or discontinued at any time without notice at the Company’s discretion. ​ The following table details the repurchases that were made during the three months ended September 30, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Numbers of Approximate Dollar ​ ​ ​ ​ ​ ​ ​ Securities ​ Value of Securities ​ ​ Total Number of ​ ​ ​ ​ Purchased ​ That May Yet Be ​ ​ Securities ​ Average ​ as Part of Publicly ​ Purchased Under ​ ​ Purchased ​ Price per ​ Announced Plan ​ The Plan Period (In thousands) ​ Securities (In thousands) (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1 - July 31 8 ​ $ 5.36 8 ​ $ 3,573 August 1 - August 31 ​ 88 ​ $ 5.16 88 ​ $ 28,119 September 1 - September 30 84 ​ $ 5.09 84 ​ $ 27,691 ​ ​ ​