STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2020

STOCKHOLDERS’ EQUITY:

Common Stock Shares Outstanding



	Three Months Ended
(In thousands)	March 31, 2020		March 31, 2019
Beginning balance	29,431		28,889
Common stock issued under employee stock plans	284		342
Repurchased	(24	)	(121	)
Ending balance	29,691		29,110

Common Stock Repurchases

As of December 31, 2019, the Company had approximately $43.9 million remaining under its stock-repurchase program. In the three months ended March 31, 2020, the Company repurchased approximately 24,000 shares of its common stock for approximately $2.0 million. As of March 31, 2020, the Company had approximately $41.9 million remaining under its current repurchase program, which has no expiration date. Authorization of future repurchase programs is at the discretion of the board of directors and will depend on the Company’s financial condition, results of operations, capital requirements, business conditions and other factors.

Cash Dividends

In January 2019, the Company’s board of directors declared four quarterly cash dividends in the amount of $0.17 per share to be paid to stockholders of record at the end of each quarter in 2019. In October 2019, the Company’s board of directors raised the cash dividends per share with the declaration of five cash dividends, consisting of (a) a dividend in the amount of $0.02 per share to be paid to stockholders of record at the end of the fourth quarter in 2019, which is in addition to the dividend in the amount of $0.17 per share to be paid to stockholders of record at the end of the fourth quarter in 2019 previously declared by the board in January 2019, and (b) a dividend in the amount of $0.19 per share to be paid to stockholders of record at the end of each quarter in 2020.

In April 2020, the Company’s board of directors raised the cash dividends further with the declaration of three cash dividends in the amount of $0.21 per share (in lieu of the $0.19 per share previously announced) to be paid to stockholders of record at the end of each of the second, third and fourth quarter in 2020.

For the three months ended March 31, 2020, and 2019, cash dividends declared and paid were as follows:



	Three Months Ended
(In thousands, except per share amounts)	March 31, 2020		March 31, 2019
Dividends declared and paid	$	5,644	$	4,937
Dividends declared per common share	$	0.19	$	0.17