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SHAREHOLDERS’ EQUITY
 12 Months Ended
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:

 

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.