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Capital Stock and Dividends
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Capital Stock and Dividends
Capital Stock and Dividends:

Capital Stock

The authorized capital stock of the Company consists of common stock and preferred stock. The Company is authorized to issue 400 million shares of common stock. The Company is also authorized to issue 40,000 shares of preferred stock, with such designations, rights and preferences as may be determined from time to time by the Board of Directors.

Dividends

During fiscal 2016 and 2015, the Company’s Board of Directors declared the following cash dividends:
Date Declared
 
Dividend Amount
Per Share
 
Stockholders of Record Date
 
Date Paid
October 31, 2016
 
$0.24
 
November 14, 2016
 
November 29, 2016
August 1, 2016
 
$0.24
 
August 15, 2016
 
August 30, 2016
May 2, 2016
 
$0.24
 
May 16, 2016
 
June 1, 2016
February 3, 2016
 
$0.20
 
February 22, 2016
 
March 8, 2016
 
 
 
 
 
 
 
November 2, 2015
 
$0.20
 
November 16, 2015
 
December 1, 2015
August 3, 2015
 
$0.20
 
August 17, 2015
 
September 1, 2015
May 4, 2015
 
$0.20
 
May 18, 2015
 
June 2, 2015
February 4, 2015
 
$0.16
 
February 23, 2015
 
March 10, 2015


It is the present intention of the Board of Directors to continue to pay a quarterly cash dividend; however, the declaration and payment of future dividends will be determined by the Board of Directors in its sole discretion and will depend upon the earnings, financial condition and capital needs of the Company, as well as other factors which the Board of Directors deem relevant.

On February 8, 2017, the Company’s Board of Directors declared a quarterly cash dividend of $0.24 per share of common stock.  The dividend will be paid on March 14, 2017, to stockholders of record as of the close of business on February 27, 2017.