(5)	Cash dividends

Common stock dividends – The Board of Directors suspended common stock dividends to conserve cash during the global recession that began in 2009 and will consider whether to resume paying these dividends as conditions and the Company’s operating results improve.

Preferred Stock dividends - At December 31, 2016 there were 448,545 shares of Series A Convertible Preferred Stock issued and outstanding. The preferred stock, which has a stated value of $24 per share, pays a 4% cumulative annual dividend semi-annually on October 15 and April 15 each year. A semi-annual dividend of $215,378 was paid on October 14, 2016. The next semi-annual dividend will be paid on April 14, 2017.