12.

Cash Dividends

On February 23, 2018, the Company’s Board of Directors approved a cash dividend of $0.05 per share. The cash dividend was paid on March 30, 2018, to each stockholder of record on March 16, 2018. Cash dividends were $19 million for each of the three months ended March 31, 2018 and 2017, respectively. The declaration and payment of future dividends is at the discretion of the Company’s Board of Directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements and other factors deemed relevant by the Company’s Board of Directors.