Capital Stock and Dividends

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Capital Stock and Dividends

Capital Stock and Dividends:

Capital Stock

The authorized capital stock of the Company consists of common stock and preferred stock. The Company is authorized to issue 400 million shares of common stock. The Company is also authorized to issue 40 thousand shares of preferred stock, with such designations, rights and preferences as may be determined from time to time by the Board of Directors.

Dividends

During the first six months of fiscal 2018 and 2017, the Board of Directors declared the following cash dividends:

Date Declared	Dividend Amount Per Share		Record Date	Date Paid
May 9, 2018	$	0.31	May 29, 2018	June 12, 2018
February 7, 2018	$	0.27	February 26, 2018	March 13, 2018
May 8, 2017	$	0.27	May 22, 2017	June 6, 2017
February 8, 2017	$	0.24	February 27, 2017	March 14, 2017

It is the present intention of the Board of Directors to continue to pay a quarterly cash dividend; however, the declaration and payment of future dividends will be determined by the Board of Directors in its sole discretion and will depend upon the earnings, financial condition and capital needs of the Company, along with other factors that the Board of Directors deems relevant.

On August 8, 2018, the Company’s Board of Directors declared a quarterly cash dividend of $0.31 per share of the Company’s outstanding common stock.  The dividend will be paid on September 11, 2018, to stockholders of record as of the close of business on August 27, 2018.