Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Stockholders’ Equity

Stockholders’ Equity

8. Stockholders’ Equity

During the three months ended March 31, 2017, the Company paid dividends of $2,527, representing $0.045 per share.  Additionally, on March 1, 2017, the Board of Directors approved a dividend of $0.045 per share, payable on April 7, 2017 to stockholders of record as of the close of business on March 17, 2017.  The accrued dividend of $2,500 is reflected in “Accrued expenses” in the Condensed Consolidated Balance Sheet as of March 31, 2017. 

On May 11, 2016, the Board of Directors approved a stock repurchase program that authorizes repurchases of the Company’s common stock up to $20,000, limited to a maximum of 2,827,105 shares, prior to May 11, 2017.  Repurchases may be executed using open market purchases, privately negotiated transactions, accelerated share repurchase programs or other transactions.  During the three months ended March 31, 2017, there were no common shares repurchased.  At March 31, 2017, up to $13,992 remained available under the share repurchase authorization, limited to 1,387,683 shares.