Note 11: Shareholders’ Equity

Dividends. Quarterly dividends of $0.08 per share returned $6,876 and $7,116 to shareholders in 2019 and 2018, respectively. On December 5, 2019, the Company’s board of directors declared an $0.08 per share dividend to shareholders of record as of the close of business on February 14, 2020, paid on March 6, 2020.

Treasury Stock. The Company repurchased shares of its common stock pursuant to a publicly announced share repurchase program authorized by the Company’s board of directors. During the fourth quarter of 2019 and 2018, the Company purchased 33,032 and 55,445 shares of its Series A common stock, respectively, through open market transactions for $123 and $ 243, respectively. However, the agreement to repurchase the Company’s stock expired in the fourth quarter of 2019 and was not renewed. In 2019 and 2018, the Company purchased 216,490 and 266,409 shares of its Series A common stock, respectively, through open market transactions for $842 and $1,299, respectively.

Outstanding Shares. The Company had Series A and Series B common stock outstanding of 18,941,115 and 2,469,308, respectively, net of treasury shares at December 31, 2019. At December 31, 2018, the Company had Series A and Series B common stock outstanding of 19,157,358 and 2,469,555, respectively, net of treasury shares.

Accumulated Other Comprehensive Loss. Accumulated other comprehensive loss consists of actuarial gains and losses attributable to the A. H. Belo Pension Plans, gains and losses resulting from Pension Plans’ amendments and other actuarial experience attributable to OPEB plans. The Company records amortization of the components of accumulated other comprehensive loss in other income, net in its Consolidated Statements of Operations. Gains and losses are amortized over the weighted average remaining life expectancy of the OPEB and Pension plans’ participants. In 2020, the Company anticipates amortizing $876 of net losses in accumulated other comprehensive loss related to its defined benefit Pension Plans and OPEB plans.

The table below sets forth the changes in accumulated other comprehensive loss, net of tax, as presented in the Company’s consolidated financial statements.



	Years Ended December 31,
	2019						2018
	Total		Defined benefit pension plans		Other post- employment benefit plans		Total		Defined benefit pension plans		Other post- employment benefit plans
Balance, beginning of period	$	(37,641)	$	(38,003)	$	362	$	(24,932)	$	(25,434)	$	502
Amortization		247		278		(31)		630		671		(41)
Actuarial gains (losses)		5,100		5,282		(182)		(13,339)		(13,240)		(99)
Balance, end of period	$	(32,294)	$	(32,443)	$	149	$	(37,641)	$	(38,003)	$	362