In connection with our initial public offering in September 1995, our shareholders authorized our Management Board to repurchase up to 10% of our issued share capital, the maximum allowed under Dutch law at the time, for a period of 18 months. This authorization was renewed at subsequent annual or special shareholder meetings. At our annual shareholders' meeting on May 23, 2019, our shareholders authorized an extension to repurchase up to 10% of our issued share capital through November 23, 2020. The repurchase of shares in the open market is at the discretion of management pursuant to this shareholder authorization. From the activation of the share repurchase program on October 29, 2002 through December 31, 2019, pursuant to shareholder approvals, we have repurchased 39,689,999 shares for an aggregate purchase price of approximately $1.7 billion, or an average price of $41.57 per share and have canceled 33,475,406 shares with an historical cost of $1.2 billion. At December 31, 2019, we held 330,690 shares in treasury with the authority to repurchase 4,148,935 additional shares under our stock repurchase program. Subsequent to year-end, we have repurchased 20,036 shares at a total cost of $0.8 million.

In 2008, Core Laboratories announced the initiation of a cash dividend program. Cash dividends of $0.55 per share were paid each quarter of 2019 and 2018. The declaration and payment of future dividends will be at the discretion of the Supervisory Board of Directors and will depend upon, among other things, future earnings, general financial condition, liquidity, capital requirements, and general business conditions. On January 14, 2020, the Company declared a cash dividend of $0.25 per share of common stock payable February 14, 2020 to shareholders of record on January 24, 2020.

Amounts recognized, net of tax, in Accumulated other comprehensive income (loss) at December 31, 2019 and 2018 consist of (in thousands):

	2019			2018
Prior service cost	$	—		$	593
Unrecognized net actuarial loss and foreign exchange		(5,640	)		(6,243	)
Fair value of derivatives		(690	)		194
Total Accumulated other comprehensive (loss)	$	(6,330	)	$	(5,456	)

All prior service costs were recognized in 2019 therefore, there is no amount expected to be recognized in 2020.