EQUITY

9 Months Ended

Sep. 30, 2012

EQUITY

7. EQUITY

Common Stock

At September 30, 2012 and December 31, 2011, the Company had authorized 60,000,000 shares of Common Stock, of which 36,395,970 were issued and 35,243,709 were outstanding as of September 30, 2012. As of December 31, 2011, there were 35,132,365 shares issued and 34,282,244 outstanding.

Treasury Stock

From the inception of the Company’s share repurchase plan through September 30, 2012, the Company has repurchased 1,152,261 shares of outstanding Common Stock for an aggregate cost of $6.5 million, thereby reducing the number of shares outstanding.

Dividends

In February, May, July and November 2012, the Company announced the payment of a $0.05 dividend per share of Common Stock. The dividend payments announced in February, May, and July were paid in March, June and September 2012, respectively, for an aggregate amount of $5.2 million, which was applied against Retained Earnings. The dividend payment announced in November 2012 will be paid on December 21, 2012 to stockholders of record on December 12, 2012.