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STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Dividend policy

In 2016, the Company’s Board of Directors approved a dividend policy pursuant to which it plans to make, subject to subsequent declaration, regular quarterly cash dividends, beginning with the declaration and payment of a cash dividend in the first quarter of 2017. For each dividend paid, a dividend equivalent is paid simultaneously on unvested shares of service-based restricted stock. All dividends on unvested shares of service-based restricted stock have been paid out of the Company's available cash. In addition, holders of performance-based restricted stock accrue dividend equivalents, for each dividend declared, that could be earned and become payable in the form of additional shares of common stock at the end of the respective performance period to the extent that the underlying shares of performance-based restricted stock were earned.

Dividends

On January 27, 2020, the Company's Board of Directors declared a regular quarterly cash dividend of $0.09 per share, payable to stockholders of record as of March 4, 2020. The dividend, which is expected to total approximately $6.1 million, will be paid on March 18, 2020. 

The Company's Board of Directors declared the following dividends during the years ended December 31, 2019 and 2018:
Declaration DateDividend per ShareRecord DatePayment Date
Amount
(in thousands)
January 28, 2019$0.08  March 5, 2019March 19, 2019$5,402  
May 7, 20190.08  June 11, 2019June 25, 20195,416  
July 29, 20190.08  September 6, 2019September 20, 20195,416  
October 28, 20190.08  December 4, 2019December 18, 20195,415  
January 29, 20180.08  March 6, 2018March 20, 20185,370  
May 1, 20180.08  June 5, 2018June 19, 20185,384  
July 30, 20180.08  September 5, 2018September 19, 20185,384  
October 28, 20180.08  December 4, 2018December 18, 20185,383