Cash Dividends

9 Months Ended

Sep. 30, 2020

Cash Dividends [Abstract]

CASH DIVIDENDS

12. CASH DIVIDENDS

On August 26, 2020, the Company's Board of Directors declared a regular quarterly dividend of $0.02 per common share payable on September 23, 2020 to all shareholders of record on September 9, 2020. There were 9,462,105 shares of common stock outstanding on September 9, 2020; therefore, dividends aggregating $189,242 were paid on September 23, 2020.

On May 26, 2020, the Company's Board of Directors declared a regular quarterly dividend of $0.02 per common share and a one-time special cash dividend of $0.02 per common share both payable on June 23, 2020 to all shareholders of record on June 9, 2020. There were 9,462,105 shares of common stock outstanding on June 9, 2020; therefore, dividends aggregating $378,484 were paid on June 23, 2020.

On March 22, 2019, the Company's Board of Directors declared a special cash dividend of $0.05 per common share payable on April 19, 2019 to all shareholders of record on April 5, 2019. There were 9,366,119 shares of common stock outstanding on April 5, 2019; therefore, dividends aggregating $468,306 were paid on April 19, 2019.