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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2018
INCOME TAXES  
Schedule of reconciliation of cash dividends paid with the dividends paid deduction

The following table reconciles cash dividends paid with the dividends paid deduction for the years indicated (amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

 

 

Estimate

 

Actual

 

Actual

Dividends paid

 

$
34,652

 

$

32,393

 

$

29,135

Dividend reinvestment plan (a)

 

 
314

 

 

252

 

 

181

 

 

 
34,966

 

 

32,645

 

 

29,316

Less: Spillover dividends designated to previous year

 

 
(10,263)

 

 

(11,916)

 

 

(15,209)

Less: Spillover dividends designated to following year (b)

 

 
(285)

 

 

 —

 

 

 —

Plus: Dividends designated from following year

 

 

 —

 

 

10,263

 

 

11,916

Dividends paid deduction

 

$
24,418

 

$

30,992

 

$

26,023

(a)

Reflects the up to 5% discount on common stock purchased through the dividend reinvestment plan.

(b)

A portion of the dividend paid in January 2019 will be considered a 2019 dividend, as it was in excess of the Company's earnings and profits through December 31, 2018.