XML 27 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Cash Dividend Distribution
9 Months Ended
Sep. 30, 2018
Cash Dividend Distribution [Abstract]  
Cash Dividend Distribution

10. Cash Dividend Distribution

In each of March, May, July and October of 2017, the Board of Directors approved a fixed quarterly cash dividend of $6,624 thousands (or $0.150 per share) on the Company’s outstanding shares of common stock. The dividends were paid on April 17July 14, October 16, 2017 and January 12, 2018 to stockholders of record as of the close of business on March 31,  June 30September 30, and December 31, 2017.  

After reviewing the Company’s capital allocation process the Board of Directors has concluded that it has multiple investment opportunities that should generate greater return to shareholders through investing capital into the business as compared to a dividend policy. Consequently, the decision has been made to suspend the payment of dividend to shareholders as of the first quarter of 2018.