Shareholders' Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Note 5. Shareholders' Equity

The Company has a Discretionary Stock Repurchase Plan approved by the Board of Directors that authorizes management to reduce issued and outstanding common stock. The Board of Directors last amended the plan on February 19, 2024 to authorize repurchases down from 140,000 to 130,000 shares. This authorization has no expiration date. During the nine months ended September 30, 2024, there were 5,057 shares repurchased at an average price of $119.21 per share, compared to 10,522 shares repurchased at an average price of $113.97 during the same period in 2023.

Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented.

On May 6, 2024, the Board of Directors declared a semi-annual dividend of $.73 per share payable on June 17, 2024 to shareholders of record as of June 3, 2024. On May 1, 2023, the Board of Directors declared a semi-annual dividend of $.69 per share payable on June 15, 2023 to shareholders of record as of June 1, 2023.

Subsequent to the end of the third quarter of 2024, on November 4, 2024, the Board of Directors declared a semi-annual dividend of $0.73 per share payable on December 16, 2024 to shareholders of record as of December 2, 2024.