Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Share Repurchases [Abstract]

Stockholders' Equity

Stockholders' Equity

In September, 2001, the Board of Directors of the Company authorized a program to repurchase 15.4 million shares, adjusted for stock splits, of the Company’s common stock in open market or negotiated transactions using available cash, cash equivalents and investments which was subsequently amended in February 2012.  Approximately 3.2 million shares remain authorized for repurchase under the program as of September 30, 2014. There were no shares repurchased in the open market during the three and nine months ended September 30, 2014. The authorization remains open at September 30, 2014 and has no expiration date. The repurchase program may be suspended or discontinued at any time without prior notice.  

During the three and nine months ended September 30, 2014 and 2013 the Company’s Board of Directors declared regular quarterly dividends totaling $1.8 million, $5.3 million, and $1.7 million, $5.1 million, respectively.  Future payment of cash dividends and the amount of such dividends will depend upon financial conditions, results of operations, cash requirements, tax treatment, and certain corporate law requirements, as well as factors deemed relevant by our Board of Directors.