Shareholders' equity

6 Months Ended

Jun. 30, 2018

Shareholders' equity [Abstract]

Shareholders' equity

5. Shareholders' equity

Changes in shareholders' equity for the six months ended June 30, 2018 were as follows (in thousands):

Balance at December 31, 2017	$	26,014
Net income		1,890
Share-based compensation expense		337
Issuance of shares from exercise of stock options		108
Foreign currency translation adjustment		(11	)
Relinquishment of stock awards upon exercise and fully vested deferred stock units		(265	)
Dividends declared and paid on common stock		(1,336	)
Purchase of common stock for treasury		(2,000	)
Balance at June 30, 2018	$	24,737

For the three months ended June 30, 2018, our Board of Directors declared a quarterly cash dividend of $0.09 per share, totaling $663 thousand, which was paid on June 15, 2018 to common shareholders of record at the close of business on May 21, 2018.  For the three months ended June 30, 2017, dividends declared and paid totaled $663 thousand, or $0.09 per share.  For the six months ended June 30, 2018 and 2017, dividends declared and paid totaled $1.3 million, or $0.18 per share, and $1.3 million, or $0.17 per share, respectively.