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CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2014

Cash Dividends Declared

Dividends declared in 2014 and 2013 are as follows:

Dividend per share		Date declared		Date of record		Payment date
$0.03125		March 12, 2013		May 1, 2013		May 15, 2013
$0.03125		June 13, 2013		August 1, 2013		August 15, 2013
$0.03125		August 2, 2013		November 1, 2013		November 15, 2013
$0.0375		October 31, 2013		January 31, 2014		February 14, 2014
$0.0375		March 11, 2014		May 1, 2014		May 15, 2014
$0.0375		June 19, 2014		August 1, 2014		August 15, 2014
$0.0375		July 29, 2014		October 31, 2014		November 14, 2014
$0.0375		November 5, 2014		January 30, 2015		February 13, 2015

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the three years ended December 31, 2014, is as follows:

		Options				Weighted- average exercise price				Weighted- average remaining contractual life (years)				Aggregate intrinsic value
Options outstanding at December 31, 2011			2,475,750			$	12.62
Grants			305,000				11.64
Exercises			(199,823	)			5.47
Cancellations			(52,750	)			12.82
Options outstanding at December 31, 2012			2,528,177				13.06
Grants			390,800				12.26
Exercises			(247,827	)			4.91
Cancellations			(68,000	)			16.89
Expirations			(231,500	)			22.46
Options outstanding at December 31, 2013			2,371,650				12.75
Grants			394,400				18.83
Exercises			(365,223	)			8.63
Cancellations			(32,200	)			12.23
Expirations			(42,000	)			26.61
Options outstanding at December 31, 2014			2,326,627				14.19				5.99			$	10,670,919
Options exercisable at December 31, 2014			1,533,785			$	13.69				4.83			$	8,425,516

Fair Value Stock Options at Grant Date using Weighted Average Assumption

The fair values for these stock options were estimated at the dates of grant using the following weighted-average assumptions:

		2014				2013				2012
Historical volatility			58	%			61	%			61	%
Expected term (years)			6.0				5.6				6.0
Risk-free interest rate			1.95	%			0.88	%			1.10	%
Expected dividend yield			0.77	%			0.97	%			0.86	%

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 718

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