Common Stock

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Common Stock

Note 2 Common Stock

Common Stock

On April 28, 2023, at the Company's annual meeting of stockholders, the stockholders approved an amendment to the Restated Articles of Incorporation to increase the number of authorized shares of the Company's common stock, par value $1 per share, from 40,000,000 to 80,000,000 shares.

In February 2023, the Board authorized the repurchase of up to 200,000 shares of the Company's Common Stock through February 2026.

The authorized common stock of the Company consisted of 80,000,000 and 40,000,000 shares of common stock as of December 31, 2023 and 2022, respectively, $1 par value, of which 37,221,098 were issued and outstanding as of December 31, 2023 and 2022, respectively.