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SHAREHOLDERS’ EQUITY | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | 12. SHAREHOLDERS’ EQUITY As of December 31, 2023 and December 31, 2022, the Company had 20,000,000 shares of common stock, with par value of $0.01 per share, authorized. For both periods, the total number of outstanding shares was 10,094,322, shares held in Treasury was 59,311, and total shares issued was 10,153,633. During 2023, 2022, and 2021, upon approval of the Board of Directors (the “Board”) the Company has declared and paid regular quarterly dividends, as set forth in the following table: SCHEDULE OF REGULAR QUARTER DIVIDEND PAYMENTS
Dividend Declared |  |  | Dividend Paid |
Date |  | Price Per Share |  |  | Date |  | Amount |
December 6, 2023 |  | $ | 0.33 |  |  | January 4, 2024 |  | $ | 3,332,000 |
September 11, 2023 |  | $ | 0.33 |  |  | October 6, 2023 |  | $ | 3,331,000 |
June 13, 2023 |  | $ | 0.33 |  |  | July 7, 2023 |  | $ | 3,332,000 |
March 28, 2023 |  | $ | 0.32 |  |  | April 24, 2023 |  | $ | 3,229,000 |
December 7, 2022 |  | $ | 0.32 |  |  | January 4, 2023 |  | $ | 3,232,000 |
September 30, 2022 |  | $ | 0.32 |  |  | October 24, 2022 |  | $ | 3,231,000 |
June 10, 2022 |  | $ | 0.32 |  |  | July 5, 2022 |  | $ | 3,230,000 |
March 29, 2022 |  | $ | 0.30 |  |  | April 25, 2022 |  | $ | 3,028,000 |
December 9, 2021 |  | $ | 0.30 |  |  | December 30, 2021 |  | $ | 3,029,000 |
September 15, 2021 |  | $ | 0.30 |  |  | October 4, 2021 |  | $ | 3,028,000 |
June 9, 2021 |  | $ | 0.30 |  |  | July 6, 2021 |  | $ | 3,028,000 |
March 24, 2021 |  | $ | 0.28 |  |  | April 14, 2021 |  | $ | 2,827,000 |
In addition to the above dividend amounts, there were dividends approved by the Company’s foreign subsidiary during September 2021 which amounted to an outlay of cash of $129,000 to the foreign subsidiary’s noncontrolling interest. It should be noted that from time to time, the Board may elect to pay special dividends, in addition to or in lieu of the regular quarterly dividends, depending upon the financial condition of the Company. The most recent special dividend was declared and paid in December 2019.

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