Stockholders' Equity

3 Months Ended

Mar. 31, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 13.  Stockholders’ Equity

A summary of the changes in Stockholders’ equity for the three months ended March 31, 2014, is as follows:

		Stockholders'
(All Amounts in Thousands)		Equity
Balance December 31, 2013	$	336,540
Net Loss		(3,217)
Common Stock Dividends*		(1,850)
Preferred Stock Dividends		(1,305)
Unrealized Foreign Currency Translation Loss		(25)
Net Change in Fair Value of Derivatives		9
Net Change in Funding Status of Defined Benefit Plan		175
Stock-based compensation expense		447
Balance March 31, 2014	$	330,774
*Includes $36,000 of accrued dividends not paid

Stock Repurchase Program

On January 25, 2008, the Company’s Board of Directors approved a share repurchase program for up to a total of 1,000,000 shares of the Company’s common stock. We expect that any share repurchases under this program will be made from time to time for cash in open market transactions at prevailing market prices. The timing and amount of any purchases under the program will be determined by management based upon market conditions and other factors.  In 2008, we repurchased 491,572 shares of our common stock for $11.5 million. Thereafter, we suspended repurchases until the second quarter of 2010, when we repurchased 223,051 shares of our common stock for $5.2 million.  Unless and until the Board otherwise provides, this authorization will remain open indefinitely, or until we reach the approved 1,000,000 share limit.

This table provides certain information with respect to the Company’s purchase of shares of its common stock during the three months ended March 31, 2014:

ISSUER PURCHASES OF EQUITY SECURITIES
Period	(a) Total Number of Shares Purchased	(b) Average Price Paid per Share	(c) Total Number of Shares Purchased as Part of Publicly Announced Plan	(d) Maximum Number of Shares that May Yet Be Purchased Under the Plan
January 1, 2014 - January 31, 2014	-	-	-	285,377
February 1, 2014 - February 28, 2014	-	-	-	285,377
March 1, 2014 - March 31, 2014	-	-	-	285,377

Dividend Payments

During the three months ended March 31, 2014, we paid cash dividends in respect to our common stock as follows:

(Amounts in Thousands Except per Share Data )					Total
			Per Share		Dividend
Record Date	Payment Date		Amount		Paid
17-Feb-14	3-Mar-14	$	0.250	$	1,814
				$	1,814

During the three months ended March 31, 2014 we paid cash dividends in respect of our Series A and Series B Cumulative Perpetual Preferred Stock as follows:

(Amounts in Thousands Except per Share Data )						Total
				Per Share		Dividend
Record Date	Series	Payment Date		Amount		Paid
29-Jan-14	A	30-Jan-14	$	2.375	$	594
29-Jan-14	B	30-Jan-14	$	2.250		711
					$	1,305