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Capital Management | 12 Months Ended
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Dec. 31, 2014
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Capital Management |
20. | Capital Management
The Company’s Board of Directors initiated a share repurchase program in February 2011. In October 2012, 2013 and 2014 the Board reauthorized this program with a new limit of $25.0 million. Unless reauthorized, the program will expire on December 31, 2015. Since beginning of this plan, the Company has repurchased a total of 1,258,250 shares for $22.4 million, or an average price of $17.78, including commissions. In 2013, the Company’s Board of Directors initiated a quarterly dividend. During 2014, the Company’s Board of Directors declared a quarterly dividend of $0.12 per share compared to $0.08 per share in 2013. The Company declared extraordinary dividends totaling $1.50 per share in 2014. There were no extraordinary dividends declared in 2013.

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