Dividends

The following is the dividend activity for the three months ended March 31, 2017 and March 31, 2016:



	Three Months Ended
	March 31
	2017		2016
Dividends declared – per share	$	0.48	$	0.48
Dividends declared – aggregate	9,349		9,256
Dividends paid – per share	0.48		0.48
Dividends paid – aggregate	9,349		9,256

Innophos Holdings, Inc. is a holding company that does not conduct any business operations of its own. As a result, it is dependent upon cash dividends, distributions and other transfers from its subsidiaries, most directly Innophos, Inc., its primary operating subsidiary, and Innophos Investments Holdings, Inc., a direct, wholly-owned subsidiary of Innophos Holdings, Inc. and the parent of Innophos, Inc., to make dividend payments on its common stock.