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Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
The Company evaluates subsequent events through the date on which the financial statements are issued.
On July 26, 2017, the Board of Directors of the Company declared a quarterly dividend of $0.45 per share. The dividend will be payable on September 27, 2017 to the common stockholders of record on September 13, 2017.
On August 4, 2017, the Company repaid the third installment of the Three Year Term Loan Facility due on October 31, 2017 of $5.6 million. As a result of the repayment the interest rate on the Three Year Term Loan decreased by one-half of one percent (0.50%) per annum. Effective immediately after the repayment, the interest rate on the final installment due on or before April 30, 2018 is the Prime Rate plus three quarters of one percent (0.75%) per annum.
On August 8, 2017, the borrowing capacity under the revolving loan facility was increased from $80.0 million to $90.0 million through the maturity date of the facility on April 30, 2018.