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6. Stockholders' Equity
 3 Months Ended
Mar. 31, 2021
Stockholders' equity  
Stockholders' Equity

Dividend

In the third quarter of 2020, we declared and paid a $0.05 per common share dividend. We intend to continue to pay this dividend on a quarterly basis, based on our business results and financial position. The following common share dividends were paid during 2021 and 2020:

 

Declaration date   Dividend     Total paid  
September 15, 2020   $ 0.05     $ 677,869  
December 15, 2020     0.05       679,779  
March 15, 2021     0.05       680,247  

 

Treasury Stock

Effective July 2020, our Board of Directors authorized a one-year repurchase plan for up to 1 million shares of our common stock at a cost not to exceed $100,000 per month. During the year ended December 31, 2020, we purchased 23,638 shares of our common stock at an aggregate cost of approximately $146,000 resulting in an average price of $6.20 per share. These shares are held in treasury. Additionally, there were 9,454 restricted shares that did not meet their vesting criteria, which are also held in treasury. We have not purchased any shares of our common stock during 2021.