Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

NOTE 14:

SUBSEQUENT EVENTS

Special Cash Dividend

On May 14, 2015, the Company's Board of Directors authorized and declared a special cash dividend of $2.60 on each common share.

The record date for the special cash dividend is June 19, 2015, and the payment date for the dividend is June 30, 2015. At $2.60 per share, the special cash dividend represents approximately 36.0% of the Company's closing stock price on May 14, 2015. Pursuant to NYSE MKT policy, when a dividend is declared in a per share amount that exceeds 20% of a company's stock price, the date on which that company's shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payable date. The Company expects, in accordance with this policy, that the ex-dividend date as set by NYSE MKT will be July 1, 2015, the first business day following the payable date for the special cash dividend. If so, shareholders of record on the record date who sell their shares prior to the ex-dividend date will be required by the exchange to give the purchaser a due bill, covering the amount of the dividend, to be redeemed on the date fixed by the exchange.

Stock Repurchase Program

On May 14, 2015, the stock repurchase program that was authorized in August 2014 was terminated by the Company's Board of Directors in connection with approving the special cash dividend.