SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Stock

There were no shares repurchased during the three months ended March 31, 2022. During the three months ended March 31, 2021, the Company repurchased 19,039 additional shares of its common stock outstanding at an average price of $18.38.

As of March 31, 2022, the Company had 1,949,716 shares of common stock outstanding. As of March 31, 2021, the Company had 2,063,280 shares of common stock outstanding.

Accumulated Other Comprehensive Income

Accumulated other comprehensive income, reflected in the Consolidated Statement of Shareholders’ Equity, represents net income plus the results of certain shareholders’ equity changes not reflected in the Consolidated Statements of Operations, such as foreign currency translation and certain pension and post-retirement benefit obligations. The after-tax components of accumulated other comprehensive income, are as follows (in thousands):

	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income, Net
Balance as of December 31, 2021	$	1,961	$	381	$	2,342
Current-period change (1)	(673)		—		(673)
Balance as of March 31, 2022	$	1,288	$	381	$	1,669

(1) No material amounts reclassified from accumulated other comprehensive income.

Dividends

On March 4, 2022, the Board declared a dividend of $0.20 per share that was paid on March 30, 2022 to shareholders of record on March 16, 2022, for an aggregate amount of $0.4 million.

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