STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2019

STOCKHOLDERS’ EQUITY:

Common Stock Shares Outstanding



	Three Months Ended			Nine Months Ended
(In thousands)	September 30, 2019	September 30, 2018		September 30, 2019		September 30, 2018
Beginning balance	29,330	29,421		28,889		29,782
Common stock issued under employee stock plans	89	59		651		630
Repurchased	—	(152	)	(121	)	(1,084	)
Ending balance	29,419	29,328		29,419		29,328

Common Stock Repurchases

As of December 31, 2018, the Company had approximately $51.2 million remaining under its stock-repurchase program. In the nine months ended September 30, 2019, the Company repurchased approximately 121,000 shares of its common stock for approximately $7.3 million. As of September 30, 2019, the Company had approximately $43.9 million remaining under its current repurchase program, which has no expiration date. Authorization of future repurchase programs is at the discretion of the board of directors and will depend on the Company’s financial condition, results of operations, capital requirements, business conditions and other factors.

Cash Dividends

In January 2019, the Company’s board of directors declared four quarterly cash dividends in the amount of $0.17 per share to be paid to stockholders of record at the end of each quarter in 2019. In October 2019, the Company’s board of directors raised the cash dividends per share with the declaration of five cash dividends, consisting of (a) a dividend in the amount of $0.02 per share to be paid to stockholders of record at the end of the fourth quarter in 2019, which is in addition to the dividend in the amount of $0.17 per share to be paid to stockholders of record at the end of the fourth quarter in 2019 previously declared by the board in January 2019, and (b) a dividend in the amount of $0.19 per share to be paid to stockholders of record at the end of each quarter in 2020. For the three and nine months ended September 30, 2019, and 2018, cash dividends declared and paid were as follows:



	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Dividends declared and paid	$	4,999	$	4,692	$	14,916	$	14,172
Dividends declared per common share	$	0.17	$	0.16	$	0.51	$	0.48