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CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Cash Dividends Declared

Dividends were declared in 2019 and 2018 as follows:

Dividend per share

Date declared

Date of record

Payment date

$0.0425

March 8, 2018

May 1, 2018

May 15, 2018

$0.0425

June 28, 2018

August 1, 2018

August 15, 2018

$0.0425

July 31, 2018

November 1, 2018

November 15, 2018

$0.0425

November 7, 2018

February 1, 2019

February 15, 2019

$0.0425

March 12, 2019

May 1, 2019

May 15, 2019

$0.0425

June 27, 2019

August 1, 2019

August 15, 2019

$0.0425

August 6, 2019

November 1, 2019

November 15, 2019

$0.0425

November 7, 2019

January 31, 2020

February 14, 2020

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, 2019, is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value
Options outstanding at December 31, 2016			1,775,400						$	13.44
Grants			125,750						17.38
Exercises			(300,000)						11.34
Cancellations			(45,700)						16.40
Expirations			(99,250)						20.40
Options outstanding at December 31, 2017			1,456,200						13.64
Grants			205,750						13.56
Exercises			(58,000)						4.93
Cancellations			(22,375)						16.95
Expirations			(32,750)						15.50
Options outstanding at December 31, 2018			1,548,825						13.87
Grants			296,500						9.21
Exercises			(75,000)						4.28
Cancellations			(19,625)						12.94
Expirations			(242,375)						13.95
Options outstanding at December 31, 2019			1,508,325						13.43						4.9						$	—
Options exercisable at December 31, 2019			1,065,422						$	14.48					3.1						$	—

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:

			2019						2018						2017
Historical volatility			35		%				34		%				39		%
Expected term (years)			6.0						6.0						6.0
Risk-free interest rate			1.82		%				2.72		%				1.97		%
Expected dividend yield			1.80		%				1.22		%				0.98		%

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2019 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, December 31, 2016			161,824						$	15.35
Grants			133,352						18.32
Vested			(69,795)						15.39
Cancellations			(6,064)						16.07
Non-vested restricted shares, December 31, 2017			219,317						17.12
Grants			223,884						13.25
Vested			(90,926)						17.14
Cancellations			(25,730)						14.96
Non-vested restricted shares, December 31, 2018			326,545						14.63
Grants			439,747						9.25
Vested			(148,414)						14.54
Cancellations			(24,537)						13.97
Non-vested restricted shares, December 31, 2019			593,341						$	10.70
Total unrecognized compensation expense remaining (in thousands)			$	4,199
Weighted-average years expected to be recognized over			1.6

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the three years ended December 31, 2019 is as follows:

			Performance - based awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, December 31, 2016			145,962						$	15.32
Grants			87,000						18.45
Cancellations			(4,070)						16.52
Non-vested performance-based awards, December 31, 2017			228,892						16.49
Grants			182,300						12.81
Vested			(58,888)						14.84
Cancellations			(13,017)						15.95
Non-vested performance-based awards, December 31, 2018			339,287						14.82
Grants			158,525						9.19
Vested			(66,761)						15.69
Cancellations			(25,992)						15.44
Non-vested performance-based awards, December 31, 2019			405,059						$	12.43
Total unrecognized compensation expense remaining (in thousands)			$	1,845
Weighted-average years expected to be recognized over			1.6

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company recorded stock compensation expense as follows (in thousands):

			Year Ended December 31,
Stock Compensation Expense Components			2019						2018						2017
Equity based stock option expense			$	617					$	691					$	1,090
Restricted and performance-based stock awards expense			4,404						3,400						2,300
Stock compensation expense for equity based awards			$	5,021					$	4,091					$	3,390
Liability based stock option expense			20						44						—
Total Stock Compensation Expense			$	5,041					$	4,135					$	3,390

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