DIVIDEND PAYMENTS

6 Months Ended

Jun. 30, 2020

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

NOTE 11– DIVIDEND PAYMENTS

The Company’s Board of Directors elected not to issue a quarterly dividend during the three-month period ended June 30, 2020.

On February 11, 2020, the Company’s Board of Directors, in accordance with its dividend policy, declared a quarterly cash dividend of $0.05 per common share, which was paid on February 28, 2020, to shareholders of record at the close of business on February 24, 2020. The total amount of this dividend payment was approximately $157,000.