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SUBSEQUENT EVENTS
3 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS

On August 2, 2016, the Company announced that its Audit Committee had declared and approved the payment of a dividend of $0.15 per share on September 9, 2016 to holders of record on August 19, 2016.

On August 2, 2016, the Company announced that Ken Kannappan, the Chief Executive Officer (“CEO”) of the Company will retire from his role as CEO effective October 1, 2016 and that Joseph Burton, currently serving as the Company’s Executive Vice President and Chief Commercial Officer, will succeed Mr. Kannappan, effective as of October 2, 2016. 

In connection with this transition, the Company expects to recognize a $2.2 million charge in the second quarter of fiscal 2017 related to cash payments to be made for severance and related benefits. Total charges related to this transition are expected to be up to approximately $8.0 million, consisting of $4.7 million in stock-based compensation charges and $3.3 million related to cash payments to be made for severance and related benefits. Actual charges could vary depending on future event contingencies that exist within the agreement.