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DIVIDENDS
6 Months Ended
Jun. 30, 2025
Dividends [Abstract]  
DIVIDENDS

NOTE 10. DIVIDENDS

On February 7, 2023, the Company announced that the Company’s Board of Directors approved the initiation of an Annual Dividend policy for the payment of an annual dividend in the amount of $1.20 per outstanding share of Common Stock, commencing in the second quarter of 2023. These dividends are paid quarterly on the 15th day of the third month of the applicable calendar quarter (or, if such date is not a trading day, then the first trading day immediately thereafter such date) to those stockholders of record on the 1st day of the third month of the applicable calendar quarter (or, if such date is not a trading day, then the first trading day immediately thereafter such date).

On June 15, 2025, the Company paid a cash dividend of $0.30 per share of its outstanding common stock, to stockholders of record on June 1, 2025. For the six months ended June 30, 2025, the Company paid total of $0.60 per share cash dividend. The cash dividend was part of the previously announced annual cash dividend of $1.20 per share payable in quarterly payments.

On July 16, 2025, the Company announced a cash dividend of $0.30 per share of its outstanding common stock, payable on September 15, 2025, to stockholders of record on September 1, 2025. This cash dividend is part of the previously announced annual cash dividend of $1.20 per share payable in quarterly payments.

The Company’s declaration of each cash dividend amount shall be subject to the Board’s review of the then-current financial statements of the Company, available acquisition opportunities and other prudent uses of the Company’s cash resources. As such, the Board of Directors may suspend the dividend program at any time and no assurances can be given that a quarterly dividend will be paid.