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Stockholders' Equity
 9 Months Ended
Sep. 30, 2023
Stockholders' Equity  
Stockholders' Equity

8. Stockholders’ Equity

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2023 Share Repurchase Program

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On April 27, 2023, our Board of Directors authorized a share repurchase program that allows us to repurchase up to $50.0 million of outstanding common stock.  Under the 2023 Share Repurchase Program, shares of our common stock may be repurchased periodically, including in the open market, privately negotiated transactions, or otherwise in accordance with applicable federal securities laws, at any time until April 27, 2024. The actual timing, manner, number, and value of shares repurchased under the program will be determined by us at our discretion.

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The following table summarizes shares repurchased under the 2023 Share Repurchase Program during the three and nine months ended September 30, 2023:

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Three Months Ended

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Nine Months Ended

(dollars and shares in thousands, except per share amounts)

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September 30, 2023

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September 30, 2023

Total cost of shares repurchased

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$

4,422

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$

6,495

Average price per share

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$

12.49

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$

11.27

Total number of shares repurchased

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354

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576

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Cash Dividends

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The following table summarizes our dividends declared and paid in each of the quarterly periods of 2023 and 2022:

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Dividends per

    

  Dividends Paid

(dollars in thousands, except per share amounts)

    

Common Share

    

(in thousands)

2023

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Q3

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$

0.155

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$

24,250

Q2

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0.150

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23,504

Q1

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0.150

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23,852

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2022

 

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Q4

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$

0.145

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$

22,589

Q3

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0.145

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22,559

Q2

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0.145

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22,494

Q1

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0.145

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22,673

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On October 26, 2023, our Board of Directors declared a quarterly dividend of $0.155 per share of common stock to be paid on November 14, 2023 to stockholders of record at the close of business on November 7, 2023.