Dividend Program

9 Months Ended

Sep. 30, 2016

Dividend Program

Dividend Program

(16) Dividend Program

In 2015, the Company’s Board of Directors initiated a dividend program under which the Company began to pay quarterly dividends, subject to quarterly declarations by the Board of Directors. During the three months ended September 30, 2016, the Board of Directors declared, and the Company paid, a quarterly dividend of $0.07 per share totaling $2.3 million, including $0.1 million in stock under the Company’s equity award plans. Dividends declared and paid during the nine months ended September 30, 2016 totaled $0.21 per share for $7.0 million, including $0.1 million in stock under the Company’s equity award plans.