Subsequent Events:

12 Months Ended

Dec. 31, 2017

Subsequent Events:

Subsequent Events:

12. Subsequent Events:

Dividend

        On February 21, 2018, the Company's Board of Directors approved the payment of its quarterly dividend of $0.50 per common share. The dividend for the first quarter of 2018 will be paid to holders of record on March 9, 2018. This estimated $22.4 million dividend payment is expected to be made on March 26, 2018.

Share Grant

        In February 2018 the Company granted approximately 0.3 million shares under the Award Plan to certain of its employees and directors with a grant date fair value of approximately $14.1 million. The grant date fair value will be recognized as equity-based compensation expense on a straight line basis over the respective service periods. The vesting of certain of these shares (24,050) granted to the Company's executives is subject to performance conditions and the vesting of 105,000 shares granted to the Company's CEO are subject to the total shareholder return of the Company's common stock compared to the total shareholder return of the Nasdaq Telecommunications Index.