Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 14.  Stockholders’ Equity

A summary of the changes in Stockholders’ equity for the six months ended June 30, 2014, is as follows:

		Stockholders'
(All Amounts in Thousands)		Equity
Balance December 31, 2013	$	336,540
Net Loss		(3,881)
Common Stock Dividends*		(3,715)
Preferred Stock Dividends		(2,611)
Unrealized Foreign Currency Translation Gain		17
Net Change in Fair Value of Derivatives		(35)
Net Change in Funding Status of Defined Benefit Plan		151
Issuance of stock-based compensation		192
Balance June 30, 2014	$	326,658
*Includes $76,000 of dividends accrued but not paid during the period

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 June 30, 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
April 1, 2014 - April 30, 2014	-	-	-	285,377
May 1, 2014 - May 31, 2014	-	-	-	285,377
June 1, 2014 - June 30, 2014	-	-	-	285,377

Dividend Payments

During the six months ended June 30, 2014, we paid cash dividends in respect to our common stock as follows:

(All 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	$	1,813
16-May-14	3-Jun-14	$	0.250		1,826
				$	3,639

During the six months ended June 30, 2014, we paid cash dividends in respect of our Series A and Series B Cumulative Perpetual Preferred Stock as follows:

(All 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		712
29-Apr-14	A	30-Apr-14	$	2.375		594
29-Apr-14	B	30-Apr-14	$	2.250		711
					$	2,611