Note 6 - Dividends

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Dividends [Text Block]

(6)

  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 of the

first

three

months of

2017

and

2016

and totaled

$817,000

and

$811,000,

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

2016

was obtained from the lender.