Note 6 - Stockholders' Equity

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

6.      Stockholders’ Equity

We are authorized to issue 245 million shares in total of all classes of stock consisting of 25 million shares of Class A common stock, 200 million shares of common stock, and 20 million shares of “blank check” preferred stock for which our Board of Directors has the authority to determine the rights, powers, limitations and restrictions. The rights of our common stock and Class A common stock are identical, except that our Class A common stock has 10 votes per share and our common stock has one vote per share.

Our common stock and Class A common stock are entitled to receive cash dividends if declared, on an equal per-share basis. On February 24, 2021, the Board of Directors initiated a quarterly cash dividend of $0.08 per share on our common stock and Class A common stock. The total dividends declared and paid during the six-months ended June 30, 2021 was approximately $15 million. During the six-months ending June 30, 2020, we did not declare or pay any dividends on our common stock or Class A common stock.

Under our various employee benefit plans, we may, at our discretion, issue authorized and unissued shares, or previously issued shares held in treasury, of our Class A common stock or common stock. As of June 30, 2021, we had reserved 3,209,452 shares and 1,103,015 shares of our common stock and Class A common stock, respectively, for future issuance under various employee benefit plans. As of December 31, 2020, we had reserved 4,006,948 shares and 1,336,440 shares of our common stock and Class A common stock, respectively, for future issuance under various employee benefit plans.

During the six-months ended June 30, 2021, we have not repurchased any shares of our common stock or Class A common stock under our share repurchase programs. As of June 30, 2021, approximately $204 million was available to repurchase shares of our common stock and/or Class A common stock under these programs.