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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2024
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

16.  SUBSEQUENT EVENTS

On October 15, 2024, the Company notified its current third-party floor plan financing lenders of phased in changes to their existing arrangements, according to the terms of each of their existing agreements. See section titled Repurchase Obligations included in note titled Commitments and Contingencies, for additional information.

On October 22, 2024, the Board of Directors approved the following actions:

Termination of the SERP; see note titled Retirement Plans for additional information; and
Declaration of a regular quarterly dividend of $0.14 per share payable December 10, 2024, to common shareholders of record at the close of business on November 11, 2024.

Also, effective October 22, 2024, the Executive Committee of the Board of Directors approved the formation of a captive insurance company wholly owned by Chaparral, to efficiently manage its insurance costs.