Stockholders' Equity

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Stockholders' Equity

5. Stockholders’ Equity

During each of the first and second quarters of 2016, the Board of Directors approved a quarterly dividend of $0.06 per share payable to stockholders and during the third quarter of 2016, the Board of Directors approved a quarterly dividend of $0.03 per share payable to stockholders. Dividends paid were $2.5 million and $6.2 million during the nine months ended September 30, 2016 and 2015, respectively.