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Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events
On April 18, 2019, the Company’s Board of Directors declared a quarterly dividend of $0.17 per share on its common stock, payable on June 7, 2019, to shareholders of record as of the close of business on May 24, 2019. The total cash payment of this dividend will be approximately $23.0 million.
On May 1, 2019, the Company acquired the outstanding stock of New England Optical Systems, Inc., a privately-held engineering and manufacturing company engaged in the design and production of technologically advanced infrared optical assemblies. The transaction consideration includes an initial $22.0 million cash payment with up to an additional $12.0 million paid over a two-year period, dependent upon achieving certain milestones. The acquisition will be reported within the Company’s Industrial Business Unit, further expanding its vertically integrated manufacturing strategy.