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CAPITAL STOCK (Tables) | 12 Months Ended
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Dec. 31, 2015
Cash Dividends Declared | Dividends were declared in 2015 and 2014 as follows:
Dividend per share |  | Date declared |  | Date of record |  | Payment date
$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
$0.0375 |  | March 4, 2015 |  | May 1, 2015 |  | May 15, 2015
$0.0375 |  | June 10, 2015 |  | July 31, 2015 |  | August 14, 2015
$0.0425 |  | August 4, 2015 |  | October 30, 2015 |  | November 13, 2015
$0.0425 |  | November 3, 2015 |  | February 1, 2016 |  | February 15, 2016
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, 2015, is as follows:
|  | Options |  |  | Weighted- average exercise price |  |  | Weighted- average remaining contractual life (years) |  |  | Aggregate intrinsic value |
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 |  |  |  |  |  |  |  |  |
Grants |  |  | 89,600 |  |  |  | 13.99 |  |  |  |  |  |  |  |  |
Exercises |  |  | (110,375 | ) |  |  | 8.84 |  |  |  |  |  |  |  |  |
Cancellations |  |  | (37,750 | ) |  |  | 15.57 |  |  |  |  |  |  |  |  |
Expirations |  |  | (25,900 | ) |  |  | 26.60 |  |  |  |  |  |  |  |  |
Options outstanding at December 31, 2015 |  |  | 2,242,202 |  |  |  | 14.28 |  |  |  | 5.1 |  |  |  | 3,715,000 |
Options exercisable at December 31, 2015 |  |  | 1,725,944 |  |  | $ | 13.85 |  |  |  | 4.3 |  |  | $ | 3,551,000 |
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:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Historical volatility |  |  | 39 | % |  |  | 58 | % |  |  | 61 | %
Expected term (years) |  |  | 5.2 |  |  |  | 6.0 |  |  |  | 5.6 |
Risk-free interest rate |  |  | 1.67 | % |  |  | 1.95 | % |  |  | 0.88 | %
Expected dividend yield |  |  | 1.18 | % |  |  | 0.77 | % |  |  | 0.97 | %
Summary of Restricted Stock Activity | A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2015 is as follows:
|  | Restricted Shares |  |  | Weighted- average grant date fair value |
Nonvested restricted shares, December 31, 2012 |  |  | 23,394 |  |  | $ | 11.54 |
Grants |  |  | 22,459 |  |  |  | 13.26 |
Vested |  |  | (23,394 | ) |  |  | 11.54 |
Nonvested restricted shares, December 31, 2013 |  |  | 22,459 |  |  |  | 13.26 |
Grants |  |  | 26,511 |  |  |  | 15.86 |
Vested |  |  | (22,459 | ) |  |  | 13.26 |
Nonvested restricted shares, December 31, 2014 |  |  | 26,511 |  |  |  | 15.86 |
Grants |  |  | 100,073 |  |  |  | 14.78 |
Vested |  |  | (24,649 | ) |  |  | 15.97 |
Cancellations |  |  | (500 | ) |  |  | 14.84 |
Nonvested restricted shares, December 31, 2015 |  |  | 101,435 |  |  | $ | 14.77 |
Total unrecognized compensation expense remaining |  | $ | 1,089,700 |  |  |  |  |
Weighted-average years expected to be recognized over |  |  | 2.6 |  |  |  |  |
Summary of Performance-based Award Activity | A summary of the Company’s performance-based award activity and related information for the year ended December 31, 2015 is as follows:
|  | Performance- based awards |  |  | Weighted- average grant date fair value |
Nonvested performance-based awards, January 1, 2015 |  |  | — |  |  | $ | — |
Grants (at target) |  |  | 66,650 |  |  |  | 14.84 |
Cancellations |  |  | (500 | ) |  |  | 14.84 |
Nonvested performance-based awards, December 31, 2015 |  |  | 66,150 |  |  | $ | 14.84 |
Total unrecognized compensation expense remaining |  | $ | 740,560 |  |  |  |  |
Weighted-average years expected to be recognized over |  |  | 2.0 |  |  |  |

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