Note 15 - Dividends and Dividend Equivalents

9 Months Ended

Sep. 30, 2015

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 when and if declared by the Board of Directors, which are generally payable on the 15th of the following month. The Board of Directors declared the following cash dividends in 2015 (in thousands, except per-share amounts):

	Dividend Declared		Total
	per Share		Amount
First quarter	$	0.20	$	7,854
Second quarter	$	0.20	$	7,925
Third quarter	$	0.20	$	7,901

As of September 30, 2015, accrued dividends totaled $7.9 million. The dividends were paid to stockholders on October 15, 2015.

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. 

Under the Company’s stock plans, outstanding RSU awards contain rights to receive cash 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 are 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 September 30, 2015 and December 31, 2014, accrued dividend equivalents totaled $2.3 million and $0.8 million, respectively, which will be paid to the employees when the related RSUs vest.