Quarterly Dividend and Share Repurchase Programs

9 Months Ended

Sep. 30, 2011

Quarterly Dividend and Share Repurchase Programs Disclosure Abstract

Quarterly Dividend and Share Repurchase Programs

Quarterly Dividend and Share Repurchase Programs

On September 23, 2011, our board of directors declared a quarterly dividend of 5 cents per share, payable on October 31, 2011 to shareholders of record as of October 14, 2011. As of September 30, 2011, we recorded a liability for dividends payable of $2,505,000.

In September 2010, the board of directors approved a share repurchase program that authorizes the repurchase of up to $100 million in shares of our outstanding common stock. We may repurchase shares from time to time at prevailing market prices on the open market or in private transactions in amounts that we deem appropriate. As of September 30, 2011, we had repurchased a total of 646,682 shares for $35,873,000 under this authorization.