STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2023

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

8. STOCKHOLDERS’ EQUITY:

Common Stock Shares Outstanding

	Three Months Ended
	March 31,
(In thousands)	2023		2022
Beginning balance		56,961		59,913
Common stock issued under employee stock plans		268		449
Repurchased		(23)		(1,584)
Ending balance		57,206		58,778

Common Stock Repurchases

As of December 31, 2022, the Company had $81.3 million remaining under its authorized stock-repurchase program. In the three months ended March 31, 2023 the Company purchased 23,000 shares for $1.7 million, leaving $79.6 million remaining on the repurchase authorization as of March 31, 2023. Authorization of future repurchase programs is at the discretion of the Company’s board of directors and will depend on the Company’s financial condition, results of operations, capital requirements, business conditions and other factors; the program has no expiration date.

Cash Dividends

In January 2022, the Company’s board of directors declared dividends of $0.18 per share to be paid to stockholders of record at the end of each quarter in 2022. In February 2023, the Company’s board of directors declared dividends of $0.19 per share to be paid to stockholders of record at the end of each quarter in 2023.

For the three months ended March 31, 2023 and 2022, cash dividends declared and paid were as follows:

	Three Months Ended
	March 31,
(In thousands, except per share amounts)	2023		2022
Dividends declared and paid	$	10,868	$	10,656
Dividends declared per common share	$	0.19	$	0.18