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STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2022

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

(8)   STOCKHOLDERS’ EQUITY

Common Stock Dividend

The Company’s Board of Directors declared a cash dividend of $0.10 per share and a stock dividend of 10% per share on November 9, 2021. The cash dividend of $3.6 million was paid out on January 21, 2022 to stockholders of record as of January 6, 2022. The 10% stock dividend declaration resulted in the issuance of an additional 3.6 million shares on January 21, 2022 to stockholders of record as of January 6, 2022.

Treasury Stock

On March 8, 2021, the Company’s Board of Directors approved a program to repurchase up to $10.0 million of the Company’s common stock at prevailing market prices either in the open market or through privately negotiated transactions through September 8, 2021. From the inception of the plan through September 8, 2021, the Company purchased 175,179 shares of its common stock for $2.7 million or an average price of $15.22 per share.

Warrants

A summary of stock warrant activity for the three months ended March 31, 2022 is presented below:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted		​	​	​
​	​	​	​	Weighted		​	Average		​	Aggregate
​	​	Number of	​	Average		​	Remaining		​	Intrinsic
​	​	Warrants	​	Exercise		​	Contractual		​	Value
​		(in thousands)		Price			Life (Years)			(in thousands)
Outstanding and exercisable at December 31, 2021		99	​	$	2.40	​		2.76	​	$	660
Granted		—	​	$	—	​		​	​	​	​
Exercised		—	​	$	—	​		​	​	​	​
Forfeited		—	​	$	—	​		​	​		​
Outstanding and exercisable at March 31, 2022		99	​	$	2.40	​		2.52	​	$	379

​

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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