Shareholders' Equity

12 Months Ended

Dec. 31, 2017

Shareholders' Equity [Abstract]

Shareholders' Equity

Note F - Shareholders' Equity

Changes in common stock outstanding and additional paid-in capital are as follows:
											Additional
	Class A				Class B						Paid-in
	Shares		Amount		Shares			Amount			Capital
Balance at January 1, 2015		2,623,109	$	112		12,356,389		$	527		$	51,854
Restricted stock grants		-		-		46,552			2			1,092
Balance at December 31, 2015		2,623,109		112		12,402,941			529			52,946
Restricted stock grants		-		-		57,959			3			1,340
Balance at December 31, 2016		2,623,109		112		12,460,900			532			54,286
Restricted stock grants		-		-		47,578			2			1,152
Repurchase of common shares		-		-		(84,960	)		(4	)		(360	)
Balance at December 31, 2017		2,623,109	$	112		12,423,518		$	530		$	55,078

The Company's Class A and Class B common stock has a stated value of approximately $.04 per share.  The Company paid a total of $16,302, or $1.08 per share, in dividends during 2017, $15,803, or $1.04 per share, during 2016 and $15,003, or $1.00 per share, during 2015.

On August 31, 2017, the Company's Board of Directors authorized the reinstatement of its share repurchase program for up to 2,464,209 shares of the Company's Class A or Class B common stock.  Pursuant to this share repurchase program, on September 21, 2017 the Company entered into a Rule 10b5-1 plan expiring on March 5, 2018, authorizing the repurchase of up to $17.5 million of the Company's outstanding common shares, at various pricing thresholds (the "Plan").  Because repurchases under the Plan will be subject to price, market volume and timing constraints, there is no assurance as to the exact number of shares that will be repurchased, if any.  The Company may amend, suspend or discontinue the share repurchase program at any time.  

For the year ended December 31, 2017, the Company paid $1,880 to repurchase 84,960 shares of Class B common stock at an average share price of $22.12 under the Plan.