Table:
| Period | (a) Total Number of Shares (or Units) Purchased | (b) Average Price Paid per Share (or Unit) | (c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | (d) Maximum Number (or Approximate Dollar Value) of Shares (or Unites) that May Yet Be Purchased Under the Plans or Programs* |
| --- | --- | --- | --- | --- |
| July 1-31, 2019 | 293 | $ 99.35 | 293 | 74,706 |
| August 1 - 31, 2019 | 39,769 | 107.71 | 39,769 | 34,937 |
| September 1 - 30, 2019 | 91 | 75.51 | 91 | 34,846 |
| Total | 40,153 | $ 107.58 | 40,153 | 34,846 |
Paragraphs:
REPURCHASE OF COMPANY SHARES
The Company repurchased a total of 75,113 and 74,880 shares of its common stock during fiscal 2019 and fiscal 2018, respectively, for cash totaling approximately $7.5 million and $7.7 million, respectively. All repurchased shares were recorded in treasury stock at cost. At September 2019, 34,846 shares of the Company’s common shares remained authorized for repurchase in either the open market or privately negotiated transactions, as previously approved by the Company’s Board of Directors. In October 2019, our Board of Directors renewed the repurchase authorization for up to 75,000 shares of the Company’s common stock.
During the fourth quarter of fiscal 2019, the Company repurchased shares of its common stock for cash totaling approximately $4.3 million. The following table summarizes these repurchases made by or on behalf of our Company or certain affiliated purchasers of shares of our common stock for the quarterly period ended September 30, 2019:
* In October 2019 and subsequent to the end of fiscal 2019, our Board of Directors authorized purchases of up to
75,000 shares of our Company’s common stock in open market or negotiated transactions. Management was
given discretion to determine the number and pricing of the shares to be purchased, as well as the timing of any
such purchases.
Question:
What is the percentage change in the amount paid by the company to purchase its common stock during 2018 and 2019?
Answer: (7.5 - 7.7)/7.7  = -2.6