SHARE PURCHASES

3 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Share Purchases

SHARE PURCHASES

During the three months ended December 31, 2016, the Company did not purchase or retire any shares of common stock. During the three months ended December 31, 2015, the Company purchased 65,411 shares of common stock for an aggregate price of $1,604. All of these shares of common stock held in treasury were retired prior to December 31, 2015. As of December 31, 2016, the Company was permitted to purchase up to 1,171,170 additional shares under its approved purchase plan, with no expiration date or restrictions. The Company accounts for treasury shares using the cost method.

DIVIDEND

On December 1, 2016, the Company's Board of Directors declared a quarterly cash dividend of $0.13 per share on all shares of common stock. This quarterly cash dividend totaled $1,155 and was paid on January 5, 2017 to stockholders of record on December 20, 2016.