XML 26 R15.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2024
Stockholders' Equity  
Stockholders' Equity

8. Stockholders’ Equity

​

Share Repurchase Program

​

On April 27, 2023, our Board of Directors authorized a share repurchase program that allowed us to repurchase up to $50.0 million of outstanding common stock. Under the 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. On April 25, 2024, our Board of Directors approved an extension of the Share Repurchase Program upon expiry of the current authorization on April 27, 2024, for an additional twenty-four-month period. Through March 31, 2024, the Company had repurchased 833,346 common shares at an average price of $12.11 per share for an aggregate of $10.1 million.  In connection with the extension, the Board of Directors replenished the amount of shares authorized for repurchase under the Share Repurchase Program, resulting in available capacity of $50.0 million. The actual timing, manner, number, and value of shares repurchased under the program will be determined by us at our discretion.

​

The following table summarizes shares repurchased under the Share Repurchase Program:

​

​

​

​

​

​

    

Three Months Ended

(dollars in thousands, except per share amounts)

​

March 31, 2024

Total cost of shares repurchased

​

$

1,230

Average price per share

​

$

14.83

Total number of shares repurchased

​

 

82,972

​

Cash Dividends

​

The following table summarizes our dividends declared and paid in each of the quarterly periods of 2024 and 2023:

​

​

​

​

​

​

​

​

​

    

Dividends per

    

​

(dollars in thousands, except per share amounts)

    

Common Share

    

  Dividends Paid

2024

​

 

  

​

 

  

Q1

​

$

0.165

​

$

26,000

​

​

​

​

​

​

​

2023

 

​

  

 

​

  

Q4

​

$

0.155

​

$

24,190

Q3

​

 

0.155

​

 

24,250

Q2

​

 

0.150

​

 

23,504

Q1

​

 

0.150

​

 

23,852

​

On April 25, 2024, our Board of Directors declared a quarterly dividend of $0.165 per share of common stock to be paid on May 14, 2024 to stockholders of record at the close of business on May 7, 2024.