ROCKY BRANDS, INC. 10-K

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.   Market Information   Our common stock trades on the NASDAQ Global Select Market under the symbol “RCKY.”   As of February 28, 2021, there were 71 shareholders of record of our common stock.   Dividends  During 2013, our Board of Directors adopted a dividend policy under which the Company intends to pay a cash dividend on its common stock.   The following table sets forth information concerning the Company’s purchases of common stock for the periods indicated:                       Maximum number (or                       approximate dollar value) of       Total number of     Average price     shares (or units) that may yet       shares (or units)     paid per share (or     be purchased under the plans   Period   purchased (1)     units)     or programs (2)                             October 1, 2020 - October 31, 2020     37,564       24.85     $ 4,561,969   November 1, 2020 - November 30, 2020     -       -       4,561,969   December 1, 2020 - December 31, 2020     -       -       4,561,969   Total     37,564       24.85     $ 4,561,969       (1) The reported shares were repurchased pursuant to the Company’s stock repurchase authorization which was publicly announced on March 2, 2020 approving up to $7,500,000 for share repurchases and expiring on February 27, 2021.   (2) The number shown represents, as of the end of each period, the maximum number of shares (approximate dollar value) of Common Stock that may yet be purchased under publicly announced stock repurchase authorizations. The shares may be purchased, from time-to-time, depending on market conditions.   On March 8, 2021, we announced a new $7,500,000 share repurchase program that will terminate on March 4, 2022. This program is replacing the $7,500,000 share repurchase program that was announced on March 2, 2020, which expired on February 27, 2021.   18 Table of Contents   ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA .   ROCKY BRANDS, INC. AND SUBSIDIARIES SELECTED CONSOLIDATED FINANCIAL DATA   ($ in thousands, except for per share data)   For the years ended December 31,       2020     2019     2018     2017     2016   Income statement data                                         Net sales   $ 277,309     $ 270,408     $ 252,694     $ 253,197     $ 260,259   Gross margin (% of sales)     37.8 %     36.1 %     34.4 %     31.9 %     29.5 % Net income (loss)   $ 20,964     $ 17,462     $ 14,553     $ 9,586     $ (2,139 ) Dividends paid on common stock     4,093       3,987       3,484       3,269       3,297                                             Earnings per share                                         Net income (loss)                                         Basic   $ 2.87     $ 2.36     $ 1.96     $ 1.29     $ (0.29 ) Diluted     2.86       2.35       1.95       1.29       (0.29 )                                           Weighted average common shares outstanding                                         Basic     7,304       7,387       7,412       7,428       7,505   Diluted     7,337       7,439       7,462       7,450       7,505                                             Balance sheet data                                         Inventory   $ 77,576     $ 76,731     $ 72,822     $ 65,622     $ 69,168   Total assets   $ 229,091     $ 205,826     $ 184,663     $ 173,479     $ 178,939   Working capital   $ 123,203     $ 114,592     $ 106,167     $ 99,159     $ 101,060   Long-term debt, less current maturities   $ -     $ -     $ -     $ 2,199     $ 14,584   Shareholders' equity   $ 179,505     $ 164,656     $ 151,575     $ 141,093     $ 135,093     19 Table of Contents