Note 9 - Dividends and Dividend Equivalents

12 Months Ended

Dec. 31, 2014

Dividends And Dividend Equivalents [Abstract]

Dividends And Dividend Equivalents [Text Block]

9. DIVIDENDS AND DIVIDEND EQUIVALENTS

2014 Cash Dividend Program

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 15th of the following month. The Board of Directors declared the following cash dividends in 2014 (in thousands, except per-share amounts):

	Dividend Declared		Total
	per Share		Amount
Second quarter	$	0.15	$	5,817
Third quarter	$	0.15	$	5,823
Fourth quarter	$	0.15	$	5,826

As of December 31, 2014, accrued dividends totaled $5.8 million.

The declaration of any future cash dividends 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.

Cash Dividend Equivalents

Beginning in June 2014, outstanding RSU awards contain rights to receive cash dividend equivalents under the Company’s stock plans, 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 payable to the employees when the awards vest. Dividend equivalents accrued on the outstanding RSUs are forfeited if the employees do not fulfill their service requirement during the vesting periods. As of December 31, 2014, accrued dividend equivalents totaled $0.8 million.

2012 Special Cash Dividend

In December 2012, the Board of Directors declared a special cash dividend of $1.00 per common share, which was paid on December 28, 2012 to all stockholders of record as of the close of business on December 21, 2012, for a total of $35.7 million.