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Stockholders' Equity
9 Months Ended
Sep. 30, 2018
Federal Home Loan Banks [Abstract]  
Stockholders' Equity

10. Stockholders’ Equity

Share Repurchase Program

On July 25, 2017, our Board of Directors approved a stock repurchase program under which the Company was authorized to repurchase up to $7.5 million of its common stock through transactions on the open market, in privately negotiated purchases or otherwise. This program expired on July 25, 2018. We did not make any share repurchases under this program.

Dividends

In February 2011, our Board of Directors approved a policy for the payment of quarterly cash dividends on our common stock. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by our Board of Directors on a quarterly basis. The dividend activity for the periods presented is as follows:

 

Record Date

 

Payment Date

 

Per Share Amount

 

Dividend Payment

            (in thousands)

Fiscal Year 2018

     

March 22, 2018

  April 5, 2018   $0.070   $1,351

May 22, 2018

  June 7, 2018   $0.070   $1,353

August 22, 2018

  September 6, 2018   $0.070   $1,369

Fiscal Year 2017

     

March 22, 2017

  April 6, 2017   $0.055   $1,029

May 24, 2017

  June 8, 2017   $0.055   $1,036

August 23, 2017

  September 7, 2017   $0.055   $1,055

November 22, 2017

  December 7, 2017   $0.055   $1,060

On October 4, 2018 our Board of Directors approved a quarterly cash dividend on our common stock of $0.07 per share payable on December 6, 2018 to stockholders of record at the close of business on November 20, 2018, which will total approximately $1.4 million.