SHAREHOLDERS EQUITY

12 Months Ended

Dec. 31, 2023

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY

11.SHAREHOLDERS’ EQUITY

Common Shares

The Company is authorized to issue up to 100,000,000 shares of common stock with a par value of $0.01 per share.

For more information on stock-based compensation and the Company’s 2016 Stock Incentive Plan, see Note 12 to our consolidated financial statements.

Preferred Shares

The Company is authorized to issue up to 5,000,000 shares of undesignated preferred stock with a par value of $0.01 per share that can be issued in one or more series. The terms, price and conditions of the preferred shares are set by the Board of Directors. No shares of preferred stock have been issued.

Dividends

The Company pays quarterly cash dividends and has paid quarterly cash dividends consecutively since May 2011. We paid cash dividends per common share of $0.72 in fiscal 2023, 2022, and 2021, respectively.