SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Stock

During the three months ended June 30, 2023 and 2022, the Company repurchased 7,396 and 31,411 shares of its outstanding common stock, respectively.

As of June 30, 2023, the Company had 1,866,212 shares of common stock outstanding. As of June 30, 2022, the Company had 1,921,262 shares of common stock outstanding.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, 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 loss are as follows (in thousands):

	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income (Loss), Net
Balance as of December 31, 2022	$	(608)	$	400	$	(208)
Current-period change (1)	(1,450)		—		(1,450)
Balance as of June 30, 2023	$	(2,058)	$	400	$	(1,658)

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

Dividends

On March 5, 2023, the Board declared a dividend of $0.20 per share that was paid on March 30, 2023 to shareholders of record on March 16, 2023, for an aggregate amount of $0.4 million.

On May 25, 2023, the Board declared a dividend of $0.20 per share that was paid on June 29, 2023 to shareholders of record on June 15, 2023, for an aggregate amount of $0.4 million.