Item 8.01 Other Events
On November 26, 2019, the Company announced that on November 21, 2019, its Board
of Directors approved a four percent increase in the cash dividend on the
Company's common stock. The quarterly dividend will increase from $0.45 per
share to $0.47 with the first payment at the new rate beginning in the first
quarter of 2020.
In addition, the Company announced authorization of a 2020 share repurchase plan
for up to $25 million of its outstanding common stock. The current share
repurchase plan will remain in effect through December 31, 2019. Purchases by
the Company under the program would be made from time to time in the open market
or in privately negotiated transactions in accordance with the requirements of
applicable law. The timing and amount of any purchases will depend on share
price, market conditions and other factors. The program does not require the
Company to purchase any specific number of shares and may be suspended or
discontinued at any time.
The press release announcing the dividend increase and share repurchase plan is
attached as Exhibit 99.1 to this Current Report on Form 8-K.


Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit No.     Description of Exhibit
99.1        Press release dated November 26, 2019

© Edgar Online, source Glimpses