Shareholders' Equity

3 Months Ended

Mar. 31, 2016

Shareholders' Equity [Abstract]

Shareholders' Equity

13.  Shareholders’ Equity 

Cash Dividends 

The Company initiated a cash dividend in the third quarter of 2012 and paid the dividend quarterly until the Company’s Board of Directors discontinued dividend payments for the foreseeable future in December 2015.  The Company paid dividend payments of $850,000 for the three months endedMarch 31, 2015 from cash on hand.  The dividend payments were recorded as a reduction to retained earnings on the Company’s Summary Consolidated Balance Sheets.

Common Shares Issued

In January 2016 the Company issued 3,703,699 shares of CryoLife common stock, as part of the consideration for the acquisition of On-X.  The stock had a value of $34.6 million as determined on the date of the closing.  See Note 4 for further discussion of the On-X acquisition.