SUBSEQUENT EVENTS

9 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Dividends

On February 4, 2020, the Company announced that the Audit Committee had declared and approved the payment of a dividend of $0.15 per share on March 10, 2020 to holders of record on February 20, 2020.

Income Taxes

During the fiscal month January 2020, the Company transferred certain intangible assets among its wholly-owned subsidiaries to align the Company's structure to its evolving operations. The transfer will result in a step-up in tax basis of intellectual property rights and a substantial correlated increase in deferred tax assets.

Divestiture of Gaming product portfolio

On February 4, 2020, the Company announced that it signed a definitive agreement to sell our Consumer Gaming product portfolio. The transaction, which is expected to close in March of this year, is immaterial to our condensed consolidated financial statements.