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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity  
Stockholders' Equity

8. Stockholders’ Equity

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Share Repurchases

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Share Repurchase Program

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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 24-month period. Through June 30, 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.

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Shares Withheld to Cover

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The 2020 Plan and 2013 Plan allow us to withhold shares upon vesting of restricted stock at the then-current market price to cover taxes required to be withheld on the vesting date.

The following table summarizes shares repurchased:

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Three Months Ended

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Six Months Ended

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June 30, 2024

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June 30, 2024

(dollars in thousands, except per share amounts)

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Total Number of Shares Repurchased

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Average Price per Share

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Total Cost of Shares Repurchased

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Total Number of Shares Repurchased

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Average Price per Share

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Total Cost of Shares Repurchased

Shares repurchased under the Share Repurchase Program

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​

—

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$

—

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$

—

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82,972

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$

14.83

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$

1,230

Shares withheld related to net settlement of equity awards

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​

597

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17.72

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11

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386,577

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16.72

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​

6,462

Total

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​

597

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$

17.72

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$

11

​

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469,549

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$

16.38

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$

7,692

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​

​

​

​

​

​

​

​

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​

​

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Three Months Ended

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Six Months Ended

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June 30, 2023

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June 30, 2023

(dollars in thousands, except per share amounts)

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Total Number of Shares Repurchased

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Average Price per Share

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Total Cost of Shares Repurchased

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Total Number of Shares Repurchased

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Average Price per Share

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Total Cost of Shares Repurchased

Shares repurchased under the Share Repurchase Program

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222,250

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$

9.33

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$

2,073

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222,250

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$

9.33

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$

2,073

Shares withheld related to net settlement of equity awards

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​

201

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9.36

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​

2

​

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383,967

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​

9.83

​

​

3,775

Total

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222,451

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$

9.33

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$

2,075

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606,217

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$

9.65

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$

5,848

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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 2024 and 2023:

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Dividends per

    

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(dollars in thousands, except per share amounts)

    

Common Share

    

  Dividends Paid

2024

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Q2

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$

0.165

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$

25,819

Q1

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0.165

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26,000

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​

​

​

​

​

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2023

 

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Q4

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$

0.155

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$

24,190

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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On July 25, 2024, our Board of Directors declared a quarterly dividend of $0.165 per share of common stock to be paid on August 13, 2024 to stockholders of record at the close of business on August 6, 2024.