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Shareholders' equity
 6 Months Ended
Jun. 30, 2017
Shareholders' equity [Abstract]  
Shareholders' equity
5. Shareholders' equity

Changes in shareholders' equity for the six months ended June 30, 2017 were as follows (in thousands):

Balance at December 31, 2016
 
$
24,109
 
Net income
  
1,810
 
Share-based compensation expense
  
296
 
Issuance of shares from exercise of stock options
  
85
 
Foreign currency translation adjustment
  
7
 
Relinquishment of fully vested deferred stock units
  
(18
)
Reversal of deferred tax asset in connection with stock options forfeited
  
(99
)
Dividends declared and paid on common stock
  
(1,250
)
Balance at June 30, 2017
 
$
24,940
 

For the three months ended June 30, 2017, our Board of Directors declared a quarterly cash dividend of $0.09 per share, totaling $663,000, which was paid in June 2017 to common shareholders of record at the close of business on May 19, 2017.  For the three months ended June 30, 2016, dividends declared and paid totaled $609,000, or $0.08 per share.  For the six months ended  June 30, 2017 and 2016, dividends declared and paid totaled $1,250,000, or $0.17 per share, and $1,232,000, or $0.16 per share, respectively.