Stockholders' Equity

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 13.

Stockholders’ Equity

The Company had authorized shares of 20,000,000 in Common stock with 11,115,779 shares issued at December 31, 2012 and 2011.  The Common stock has a par value of $.01 per share and the current dividend as authorized by the Company’s Board of Directors is $0.10 per year or $0.025 per quarter.  In February 2013, the Company’s Board of Directors authorized an increase to the regular quarterly dividend to $0.03 from $0.025. 

At December 31, 2012 and 2011, the Company had authorized shares of 5,000,000 in Preferred stock.  No Preferred stock has been issued.  No par value has been assigned to the Preferred stock.

The Company’s Board of Directors authorized the purchase of up to $25,000,000 in shares of its Common stock through a share repurchase program announced in May 2011 at prevailing market prices or privately negotiated transactions.  There were no such repurchases of common stock under this program during 2012.  During 2011 the Company purchased 278,655 shares of common stock for approximately $6,480,000.  This authorization expires on December 31, 2013.

The Company’s Board of Directors authorized the purchase of up to $40,000,000 in shares of its Common stock through share repurchase programs announced in 2008 at prevailing market prices or privately negotiated transactions.  There were no such repurchases of common stock under these programs during 2010.  The authorization expired on December 31, 2010.

Cash dividends of approximately $1,029,000 and $1,022,000 were paid in 2012 and 2011, respectively.  No cash dividends on Common stock were paid in 2010.

	Common Stock
Share Activity	Treasury	Outstanding
	Number of Shares
Balance at end of 2009	927,423	10,163,964
Issued for stock-based compensation plans	(113,174)	113,174
Balance at end of 2010	814,249	10,277,138
Purchased through share repurchase program	278,655	(278,655)
Issued for stock-based compensation plans	(50,528)	74,920
Balance at end of 2011	1,042,376	10,073,403
Issued for stock-based compensation plans	(75,995)	75,995
Balance at end of 2012	966,381	10,149,398