Shareholders' Equity

6 Months Ended

Jun. 30, 2011

Shareholders' Equity

Shareholders' Equity

Note 11—Shareholders’ Equity

In January 2011, the Company announced that its Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 20,000,000 shares of its common stock during the three year period ending January 31, 2014 (the “Program”). During the six months ended June 30, 2011, the Company repurchased approximately 6,600,000 shares of its common stock for approximately $361,000.  During the second quarter of 2011, these treasury shares were retired by the Company and accumulated earnings were reduced by the respective repurchase amounts.

The Company pays a quarterly dividend on its common stock of $.015 per share.  For the three and six months ended June 30, 2011, the Company paid dividends in the amount of $2,608 and $5,241, respectively, and declared dividends in the amount of $2,515 and $5,156, respectively.  For the three and six months ended June 30, 2010, the Company paid dividends in the amount of $2,602 and $5,197, respectively, and declared dividends in the amount of $2,603 and $5,204, respectively.