Quarterly report pursuant to Section 13 or 15(d)

EQUITY TRANSACTIONS

v2.4.0.8
EQUITY TRANSACTIONS
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
EQUITY TRANSACTIONS

NOTE 7. EQUITY TRANSACTIONS

We account for stock-based compensation expense in accordance with FASB ASC Topic 718 “Compensation-Stock Expense.” As a result, $0.4 million and $1.2 million of non-cash stock-based compensation expense has been recorded to additional paid-in capital for the three and six month ended June 30, 2013, respectively, in comparison to $0.4 million and $0.7 million for the three and six months ended June 30, 2012, respectively.

On May 30, 2013, we announced a quarterly dividend in the amount of $0.05 per share on Class A and Class B common stock. The quarterly dividend of $1.2 million, or $0.05 per share, was paid on June 28, 2013 to all common stockholders of record as of June 14, 2013. On March 18, 2013, we announced a quarterly dividend in the amount of $0.05 per share on Class A and Class B common stock. The quarterly dividend of $1.2 million, or $0.05 per share, was funded on March 29, 2013 for payment on April 1, 2013 to all Class A and Class B common stockholders of record as of March 25, 2013. Based on the number of shares of Class A and Class B currently outstanding, we expect to pay total annual dividends of $4.9 million.

On March 7, 2012, our Board of Directors authorized and declared a quarterly dividend in the amount of $0.035 per share on Class A and Class B common stock. Quarterly dividends were paid on March 30, 2012, June 29, 2012, September 28, 2012 and December 28, 2012, to all Class A and Class B common stockholders of record. We paid $3.4 million in dividends during 2012.