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13. Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
13. Subsequent Events

The Company has evaluated events that occurred subsequent to March 31, 2020 through the date these condensed consolidated financial statements were issued for matters that required disclosure or adjustment in these condensed consolidated financial statements.

 

Dividends Declared

 

On May 6, 2020, the Company’s Board of Directors approved a quarterly dividend of $0.04 per share payable in cash on June 15, 2020 to stockholders of record as of the close of business on May 29, 2020 (see Note 8).

 

COVID 19

 

The recent outbreak of the coronavirus, also known as "COVID-19", has spread across the globe and is impacting worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and government authorities have implemented emergency measures to mitigate the spread of the virus. The outbreak and the related mitigation measures have had and will continue to have a material adverse impact on global economic conditions as well as on the Company's business activities. The extent to which COVID-19 may impact the Company's business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in the United States and other countries to contain and treat the disease. These events are highly uncertain and, as such, the Company cannot determine their financial impact at this time. No adjustments have been made to the amounts reported in these condensed consolidated financial statements as a result of this matter.