Note 9 - Dividends and Dividend Equivalents

12 Months Ended

Dec. 31, 2015

Dividends And Dividend Equivalents [Abstract]

Dividends And Dividend Equivalents [Text Block]

9. DIVIDENDS AND DIVIDEND EQUIVALENTS

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 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 thousands, except per-share amounts):

	Dividend Declared per Share		Total Amount
2015:
First quarter	$	0.20	$	7,854
Second quarter	$	0.20	$	7,925
Third quarter	$	0.20	$	7,901
Fourth quarter	$	0.20	$	7,938
2014:
Second quarter	$	0.15	$	5,817
Third quarter	$	0.15	$	5,823
Fourth quarter	$	0.15	$	5,826

As of December 31, 2015, accrued dividends totaled $7.9 million, which were paid to stockholders on January 15, 2016.

The declaration of any future cash dividends is at the discretion of the Board of Directors and will depend on, among other things, the Company’s financial condition, results of operations, capital requirements, business conditions, statutory requirements of Delaware law, compliance with the terms of future indebtedness and credit facilities and other factors that the Board of Directors may deem relevant, as well as a determination that cash dividends are in the best interests of the 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 Equivalent Rights

Under the Company’s stock plan, 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 accumulated during the vesting periods of the RSUs and are payable to the employees when the awards vest. Dividend equivalents accumulated on the RSUs are forfeited if the employees do not fulfill their service requirement during the vesting periods. As of December 31, 2015 and 2014, accrued dividend equivalents totaled $2.8 million and $0.8 million, respectively, which will be paid to the employees when the RSUs vest.