Common Shareholders' Equity
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6 Months Ended |
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Mar. 31, 2013
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Common Shareholders' Equity | 10. Common Shareholders’ Equity Common Stock Holders of our common stock are entitled to receive dividends when and as declared by our Board of Directors and have the right to one vote per share on all matters requiring shareholder approval. On December 21, 2012 and March 29, 2013, we paid cash dividends of $0.10 per share to common stockholders of record as of December 7, 2012 and March 15, 2013, respectively. The aggregate payment was approximately $4.9 million. Our Board of Directors evaluates dividends quarterly. Share Repurchase Program On December 20, 2011, our Board of Directors authorized the repurchase of up to $25.0 million of our common stock in the open market or through privately negotiated transactions. The timing and actual number of shares purchased will depend on a variety of factors such as price, corporate and regulatory requirements and prevailing market conditions. We may terminate or limit the share repurchase program at any time without prior notice. During the six months ended March 31, 2013, we purchased 556,100 shares at an average price per share of $9.61 and a total cost of approximately $5.4 million. We did not make any purchases during the three months ended March 31, 2013. At March 31, 2013, we have purchased 699,700 shares at an average price per share of $10.27 and a total cost of approximately $7.2 million under this program. |