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Subsequent Event
6 Months Ended
Dec. 31, 2012
Subsequent Event

Note 13—Subsequent Event

 

On January 7, 2013, the Company’s Board of Directors declared a quarterly cash dividend on the Company’s Common Stock of $0.10 per share. The dividend is payable on February 11, 2013 to all shareholders of record at the close of business on January 28, 2013. The aggregate dividend payment is approximately $2.4 million.

The Company typically pays dividends in February, May, August and November of each fiscal year. However, the actual declaration of future cash dividends, and the establishment of record and payment dates, will be subject to final determination by the Board of Directors each quarter after its review of the Company’s financial performance. Under the terms of the Merger Agreement, the Company may continue to declare or pay quarterly dividends to its common stockholders not in excess of $0.10 per share.