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Stockholders' Equity
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity [Abstract]  
Stockholders' Equity

Note 18.  Stockholders' Equity

Capital Stock


The Company's authorized capital stock consists of 100 million shares of common stock, par value $0.10 per share, of which 34,544,307 shares and 35,190,343 shares were outstanding at December 31, 2019 and 2018, respectively, and 1,000,000 shares of preferred stock, none of which were issued and outstanding.

Cash Dividends


Cash dividends of $7.0 million or $0.20 per common share were paid during 2019. In January 2020, a cash dividend of approximately $1.7 million or $0.05 per share, was declared, payable in the first quarter of 2020.

Stock Award and Incentive Plan


At the Company’s 2015 Annual Meeting of Stockholders, the Company’s stockholders ratified the adoption of the Company’s 2015 Stock Award and Incentive Plan (the “2015 Plan”), which provides for grants of incentive and non-qualified stock options, restricted stock, stock appreciation rights, stock awards or performance unit awards. The 2015 Plan is substantially similar to the Company’s 2001 Stock Award and Incentive Plan (as amended and restated as of March 18, 2009, the “2001 Plan” and collectively with the 2015 Plan, the “Plans”). The Company established the 2015 Plan to increase the total number of shares of common stock reserved and available for issuance by 880,000 shares from the number of shares remaining under the 2001 Plan. With the ratification of the 2015 Plan by the Company’s stockholders, the 2001 Plan was discontinued as to new grants (however, all awards previously granted under the 2001 Plan remained unchanged). The Plans are administered by the Compensation Committee of the Board of Directors. Stock options granted under the Plan have a term not in excess of ten years. The exercise price for stock options will not be less than the fair market value of the common stock on the date of the grant, and each award of stock options will vest ratably over a specified period, generally three years.


The following table summarizes stock option and restricted stock activity for the Plans:


        
Stock Options
    
Restricted Shares
  
   
Shares
Available
for Grant
    
Shares
    
Weighted Average
Exercise Price
per Share ($)
    
Shares
    
Weighted Average
Exercise Price
per Share ($)
  
Balance January 1, 2016
    
1,202,426
      
1,198,725
    
$
41.66
      
227,213
    
$
49.57
  
Granted
    
(257,072
)
    
187,533
      
77.99
      
69,539
      
78.00
  
Exercised/vested
    
—
      
(353,636
)
    
41.56
      
(61,274
)
    
52.51
  
Canceled
    
91,151
      
(35,783
)
    
50.47
      
(55,368
)
    
52.74
  
Balance December 31, 2017
    
1,036,505
      
996,839
      
48.21
      
180,110
      
58.57
  
Granted
    
(260,508
)
    
191,147
      
76.09
      
69,361
      
76.26
  
Exercised/vested
    
—
      
(98,945
)
    
33.83
      
(59,649
)
    
56.44
  
Canceled
    
90,026
      
(34,782
)
    
65.47
      
(55,244
)
    
58.57
  
Balance December 31, 2018
    
866,023
      
1,054,259
      
54.04
      
134,578
      
68.64
  
Granted
    
(388,162
)
    
271,261
      
54.44
      
116,901
      
54.51
  
Exercised/vested
    
—
      
(79,686
)
    
27.26
      
(40,776
)
    
60.79
  
Canceled
    
51,181
      
(18,214
)
    
66.93
      
(32,967
)
    
61.87
  
Balance December 31, 2019
    
529,042
      
1,227,620
    
$
55.83
      
177,736
    
$
62.40