STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2025

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

8. STOCKHOLDERS’ EQUITY:

Common Stock Shares Outstanding

	Three Months Ended
	March 31,
(In thousands)	2025		2024
Beginning balance		56,837		56,738
Common stock issued under employee stock plans		259		228
Repurchased		(404)		(207)
Ending balance		56,692		56,759

Common Stock Repurchases

As of December 31, 2024, the Company had $48.1 million remaining under its authorized stock-repurchase program. In the three months ended March 31, 2025, the Company purchased approximately 404,000 shares of the Company’s common stock for $23.1 million leaving $25.0 million remaining on the repurchase authorization as of March 31, 2025. In April 2025, the Company utilized the remaining $25.0 million, repurchasing approximately 560,000 shares of its common stock. Subsequently, the Company’s board of directors authorized the use of an additional $50.0 million for the repurchase of the Company’s common stock, with repurchases to be executed according to pre-defined price/volume guidelines. The program has no expiration date. 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.

Cash Dividends

In October 2023, the Company’s board of directors declared dividends of $0.20 per share to be paid to stockholders of record at the end of each quarter in 2024.

In October 2024, the Company’s board of directors raised the quarterly cash dividend with the declaration of five cash dividends of $0.21 per share to be paid to stockholders of record at the end of the fourth quarter in 2024 (in lieu of the previously declared dividend of $0.20 per share announced in October 2023) and at the end of each quarter in 2025.

For the three months ended March 31, 2025 and 2024, cash dividends declared and paid were as follows:

	Three Months Ended
	March 31,
(In thousands, except per share amounts)	2025		2024
Dividends declared and paid	$	11,959	$	11,384
Dividends declared per common share	$	0.21	$	0.20