Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Dividend Declaration. On April 15, 2019, we announced that our Board of Directors declared a cash dividend of $0.60 per common share. As such, we expect to pay approximately $9.8 million (including dividend equivalents) on or about May 15, 2019 to stockholders of record and the holders of certain restricted stock units at the close of business on April 25, 2019.

Section 232 Tariff. In July and September 2018, we filed a total of three requests for exclusion from certain import duties, as instituted in the Presidential Proclamation 9704 of March 8, 2018 (also known as "Section 232 Tariff"), with the Bureau of Industry and Security ("BIS"), an agency within the Department of Commerce, for recovery of approximately $3.1 million, which represents Section 232 Tariff related duties paid from the dates of filing the exclusion requests through March 31, 2019. On April 25, 2019, we were notified that two of the three requests for exclusions were denied by the BIS and we believe the third request for exclusion is not probable. No amounts of recovery were assumed in the financial results for the quarter ended March 31, 2019 for the possible collection of a refund.