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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2019
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS |
17. | SUBSEQUENT EVENTS
On February 18, 2020, the Company declared a cash dividend of $0.07 per share in respect of the results for the fourth quarter of 2019. The dividend of $10.3 million was paid on March 16, 2020. On March 18, 2020, the Company announced a share buy-back program with a scope of up to 4.5 million common shares. On March 24, 2020, the Company declared a cash dividend of $0.14 cent per share in respect of the results for the first quarter of 2020. The payment date will be June 5, 2020. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (or COVID-19) as a pandemic. The Company has not yet experienced any material negative impacts to its business, results of operations, or financial position as a result of COVID-19. The future financial effects to the Company, if any, of COVID-19 cannot be reasonably estimated at this time.

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- Definition Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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