XML 33 R22.htm IDEA: XBRL DOCUMENT v3.21.2
Subsequent Events
6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events

Note 14—Subsequent Events

On July 20, 2021, the Company announced that the Board of Directors approved and declared a quarterly dividend of $0.03 per share of its Class A common stock that will be paid on August 20, 2021 to holders of record on July 30, 2021.

On July 20, 2021, the Company announced that its Board of Directors approved an increase of $40 million in the aggregate amount authorized under the current share repurchase program to repurchase outstanding Class A common stock and Class B units. As of June 30, 2021, there was approximately $7.0 million remaining of the $30.0 million additional authorization announced by the Board of Directors on April 19, 2018. The Company intends to use available cash on hand to fund such purchases. The objective of the program is to minimize dilution from compensatory stock and unit related issuances.

The timing, number and value of common shares and units repurchased under the program will be determined by management, in its discretion. The Company has no obligation to repurchase any common shares or units under the authorization, and repurchase plan may be suspended, discontinued, or modified at any time, for any reason.

No other subsequent events necessitated disclosures and/or adjustments.