Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

Dividend

On October 12, 2017, the Board of Directors declared a quarterly cash dividend of $0.47 per share of common stock which was paid on October 30, 2017 to shareholders of record as of the close of business on October 23, 2017.

Automatic Shelf Registration on Form S-3

On October 20, 2017, the Company filed an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission. The shelf registration statement is automatically effective and is valid for three years. Pursuant to the shelf registration statement, the Company may offer common stock, preferred stock, debt securities, guarantees of debt securities, warrants and units from time to time in amounts, at prices and on terms that will be determined at the time of any such offering.

Asset Sale

On November 1, 2017, the Company signed and closed on an Asset Purchase Agreement (the "Agreement") with an unrelated entity for the sale of substantially all of the assets of one of the acquired CEC entities for approximately $5 million. The operations of this entity were not significant to the Company.