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Subsequent Event
12 Months Ended
Dec. 31, 2023
Subsequent Event.  
Subsequent Event

24. Subsequent Events

On February 15, 2024, the Company announced that its board of directors had approved a dividend of $1.65 per share for stockholders of record on February 29, 2024, with payment date of March 15, 2024. The dividend consists of a fixed component of $0.25 per share and a variable component of $1.40 per share.

On February 8, 2024, the Company entered into a new senior secured term loan credit agreement in the principal amount of $20.0 million.  The new term loan requires quarterly principal amortization payments of $3.3 million and matures on June 30, 2025.  The loan is guaranteed by substantially all of the domestic subsidiaries of the Company. Additionally, the loan is secured by substantially all of the assets of the Company and the guarantors, subject to customary exceptions (including an exclusion for owned and leased real property).  The proceeds from the new term loan were used to pay off the $3.5 million balance of the existing term loan debt facility.