XML 112 R19.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stockholders Equity
12 Months Ended
Dec. 31, 2019
Stockholders Equity Note [Abstract]  
Stockholder's Equity

Note 11 – Stockholders’ Equity

We have never declared or paid cash dividends on our Common Stock. Our U.S. Credit Facility permits us to pay dividends up to $3.0 million per fiscal year to its stockholders so long as we have not defaulted under the U.S. Credit Facility at the time of such dividend and no default would result from declaring or paying such dividend. The payment of dividends is within the discretion of our Board of Directors. See Note 8 for additional information regarding our credit agreements.

During November 2015, the Company’s board of directors authorized a share repurchase plan to repurchase up to an aggregate of $100 million of the Company’s outstanding common stock.  This repurchase plan expired December 31, 2019, and was not renewed. During 2017, the Company repurchased 300,000 shares of its common stock at a cost of $8.7 million.  All purchases were made through open market transactions and were recorded as treasury stock.  During 2018 and 2019, the Company did not make any repurchases of its common stock.