Subsequent Event

3 Months Ended

Mar. 31, 2016

Subsequent Event

Subsequent Event

15.  Subsequent Events

On May 11, 2016, the Board of Directors approved a dividend of $0.045 per share. This dividend is payable on July 7, 2016, to stockholders of record as of the close of business on June 16, 2016.

On May 11, 2016, the Board of Directors approved a stock repurchase program that authorizes repurchases of $20 million of the Company’s common stock, up to a maximum of 2,827,105 common shares of the Company over the next twelve months.  The Company’s repurchases may be executed using open market purchases, privately negotiated transactions, accelerated share repurchase programs or other transactions.