Note 8 - Dividends

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Dividends [Text Block]

8.

Dividends

In

2010,

we announced that our Board of Directors approved a regular cash dividend program to our stockholders, subject to approval each quarter. Quarterly cash dividends of

$

0.025

per share of common stock were declared in each quarter of

2016,

2015

and

2014,

and totaled

$3.3

million in each of the

three

years respectively. Our ability to pay cash dividends is currently limited by restrictions contained in our revolving credit facility, which prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of

25%

of our net income from the prior fiscal year. A waiver of the

25%

limitation for

2015

and

2016

was obtained from the lender.