11. Dividends

During the nine months ended March 31, 2013, our Board of Directors approved four quarterly cash dividends, including two during the three months ended September 30, 2012, and a special dividend. The following summarizes our dividend activity during the nine months ended March 31, 2013:


			Dividend
Record Date	Payment Date	Type		Per Share		Total
July 17, 2012	July 31, 2012	Quarterly	$	0.06	$	541,000
September 14, 2012	September 28, 2012	Quarterly	$	0.06	$	554,000
December 14, 2012	December 28, 2012	Quarterly	$	0.06	$	556,000
December 21, 2012	December 31, 2012	Special	$	0.50	$	4,632,000
March 15, 2013	March 29, 2013	Quarterly	$	0.06	$	554,000
Total					$	6,837,000

As of March 31, 2013, we have accrued for $333,000 of dividends payable to holders of restricted common stock who held restricted shares at the time of dividend record dates and still hold those restricted shares as of March 31, 2013. Such dividends will be paid when the restrictions on a holder's restricted common shares lapse. This dividend payable is divided between current payable and non-current payable in the amounts of $74,000 and $259,000 respectively based upon the expected vest date of the underlying shares. These holders of restricted common stock will receive the dividend payments as long as they remain eligible at the vest date of the shares. During the three months ended March 31, 2013, $26,000 of dividends payable were forfeited and returned to capital for restricted shares that were forfeited prior to meeting vesting requirements. Because the participants are not entitled to these dividends unless they complete the requisite service period for the shares to vest, they are not participating dividends as defined under ASC 260-10.