Note 15 - Dividends and Dividend Equivalents

9 Months Ended

Sep. 30, 2014

Dividends And Dividend Equivalents [Abstract]

Dividends And Dividend Equivalents [Text Block]

15. DIVIDENDS AND DIVIDEND EQUIVALENTS

In June 2014, the Board of Directors approved a dividend program pursuant to which the Company intends to pay quarterly cash dividends on its common stock. Stockholders of record as of the last day of the quarter are entitled to receive the quarterly cash dividends declared by the Board of Directors, which are payable on the 15^th of the following month. The Board of Directors declared the following dividends in 2014:

	Dividend Declared		Total
	per Share		Amount
2014			(in thousands)
Second quarter	$	0.15	$	5,817
Third quarter		0.15		5,823

As of September 30, 2014, accrued dividends totaled $5.8 million, which was paid to stockholders on October 15, 2014.

The declaration of any future cash dividend is at the discretion of the Board of Directors and will depend on the Company's financial condition, results of operations, capital requirements, business conditions and other factors, as well as a determination that cash dividends are in the best interests of the Company's stockholders. The Company anticipates that the cash used for future dividends will come from its current domestic cash and cash generated from ongoing U.S. operations. If cash held by the Company’s international subsidiaries is needed for the payment of dividends, the Company may be required to accrue and pay U.S. taxes to repatriate the funds.

Under the 2004 Plan, RSU awards contain rights to receive dividend equivalents, which entitle employees who hold RSUs to the same dividend value per share as holders of common stock. The dividend equivalents are accrued quarterly during the vesting periods of the RSUs and paid to the employees when the awards vest. Dividend equivalents accrued on the RSUs are forfeited if the employees do not fulfill their service requirement during the vesting periods. As of September 30, 2014, accrued dividend equivalents totaled $0.5 million.