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Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events  
Subsequent Events

16.   Subsequent Events

 

Preferred Stock Dividend

 

On March 17, 2014, the Company’s Board of Directors declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s Preferred Stock with respect to the first quarter of 2014. The Company is expected to pay the dividend on May 1, 2014 to holders of record of the Preferred Stock as of the close of business on April 18, 2014.

 

The Board considered numerous factors in determining whether to declare the quarterly dividend, including the requisite financial analysis and determination of a surplus. While the Board will analyze the advisability of the declaration of dividends in future quarters, there is no assurance that future quarterly dividends will be declared.