SUBSEQUENT EVENTS

3 Months Ended

Jun. 30, 2016

NOTE 19.

SUBSEQUENT EVENTS

In July 2016, our Board of Directors declared a cash dividend of $0.12 per share on our outstanding common stock to be paid on September 15, 2016 to all shareholders of record as of the close of business on September 1, 2016.

In July 2016, our Board of Directors approved a $30.0 million increase to our existing share repurchase program, which when added to the $24.0 million remaining under our previously-authorized share repurchase program provides for a total of $54.0 million authorized for purchase as of such date.

On August 8, 2016, Zoetis Inc. acquired SMB. The total purchase proceeds for our 15% investment in SMB is approximately $9.7 million in cash, subject to a holdback for certain adjustments that may occur. The holdback payment is expected to be released 18 months following the closing date.