Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Share Repurchases [Abstract]

Stockholders' Equity

Equity

We have a stock repurchase program with 6.0 million shares remaining authorized for repurchase as of December 31, 2024, following the additional authorization of 3.0 million shares by our Board of Directors on August 20, 2021. There were 0.6 million shares repurchased in the open market during the year ended December 31, 2024 while no shares were repurchased in 2023 and 2022. Repurchases are expected to continue from time to time, as determined by market conditions, cash flow requirements, securities law limitations, long-term debt balances, and other factors, until the number of shares authorized have been repurchased, or until the authorization is terminated. The share repurchase authorization is discretionary and has no expiration date.

During the years ended December 31, 2024, 2023 and 2022 our Board of Directors declared dividends totaling $6.3 million, $6.3 million, and $6.3 million for each year, respectively. Future payment of cash dividends and the amount of such dividends will depend upon our financial conditions, our results of operations, our cash requirements, our tax treatment, and certain corporate law requirements, as well as factors deemed relevant by our Board of Directors.