Stockholder's Equity

Accumulated Other Comprehensive Income

The components of AOCI consisted of the following for the periods presented:



	June 30, 2017			March 31, 2017
Foreign Currency Translation Adjustment	$	(734	)	$	(3,843	)
Derivative Instruments	(629		)	(348		)
Defined Benefit Pension	(11,187		)	(11,290		)
Accumulated other comprehensive income	$	(12,550	)	$	(15,481	)

Dividends

The following table presents information about the Company's dividend program:



Period	Record Date	Payment Date	Rate		Aggregate Value
1Q18	June 30, 2017	July 14, 2017	$	0.12	$	1,817
4Q17	March 31, 2017	April 14, 2017	$	0.12	$	1,795
3Q17	December 30, 2016	January 13, 2017	$	0.12	$	1,818
2Q17	September 30, 2016	October 14, 2016	$	0.12	$	1,818
1Q17	July 1, 2016	July 15, 2016	$	0.12	$	1,811

While the Company has paid dividends for the past 49 quarters, it is no longer permitted to do so under the Amended Credit Agreement. The Company expects to use the funds that were previously available for dividends to supplement spending for our previously announced US-based ERP project and to develop and implement growth initiatives for the Company, both of which we believe will create long-term shareholder value. This restriction is in effect until May 9, 2021. See Note 5 for additional information regarding our Amended Credit Agreement.

Common Stock Repurchases

The following table presents information about the Company's common stock repurchases:



	Three-months ended
	June 30
	2017		2016
Shares of common stock purchased	44,507		39,735
Aggregate purchase price	$	393	$	477
Average purchase price	$	8.84	$	12.01

During the three-month period ended June 30, 2017, the Company made tax payments of $393 and withheld 44,507 shares of common stock, which were designated as treasury shares, at an average price per share of $8.84, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units.

Since the inception of its repurchase programs beginning in April 1999 and through June 30, 2017, the Company has repurchased 11,392,851 shares of common stock for an aggregate purchase price of $408,621, or an average purchase price per share of $35.87. These shares do not include the treasury shares withheld for tax payments due upon the vesting of certain restricted stock units and performance shares. As of June 30, 2017, 1,107,149 shares were available under the most recent repurchase programs.

Under the Amended Credit Agreement, the Company is no longer permitted to repurchase common stock through its repurchase program but is allowed to repurchase a limited amount of shares for tax payments related to the vesting certain restricted stock units and performance shares, as applicable. This restriction is in effect until May 9, 2021. The Company expects to use the funds that were previously available for stock repurchases to supplement spending for our previously announced US-based ERP project and to develop and implement growth initiatives for the Company, both of which we believe will create long-term shareholder value. See Note 5 for additional information regarding our Amended Credit Agreement.