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On February 22, 2019, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the May 2018 share repurchase program.
+Added: On February 17, 2023, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the previously approved share repurchase program.
Repurchases may be made, from time to time, on the open market, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act.
2 unchanged sentences
The below table sets forth the repurchases of Company common stock, by month, for the quarter ended December 31, 2022:
−Removed: Period Total Number of Shares Purchased (1)
−Removed: Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plan Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan
+Added: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plan Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan
October 2022 155,500 $ 33.50 155,500 $ 33,394,158
3 unchanged sentences
Total 284,201 $ 35.72 284,201
−Removed: (1) Total number of shares purchased includes 1,274 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards.
As of December 31, 2022, the Company had repurchased a total of 4,531,073 shares of common stock, including 592,976 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards, for an aggregate of $136.1 million at a weighted average market price of $30.04 per share.
−Removed: During the period January 1, 2022 through February 4, 2022, no additional shares were repurchased under the currently authorized repurchase program.
−Removed: As announced on February 18, 2022, the Board declared a quarterly cash dividend of $0.125 per share on the Company's common stock, payable on March 15, 2022 to stockholders of record as of the close of business on March 1, 2022.
−Removed: As announced on September 28, 2021, the Board declared a quarterly cash dividend of $0.125 per share on the Company's common stock, payable on November 23, 2021 to stockholders of record as of the close of business on November 9, 2021.
−Removed: We generally expect to declare and pay dividends on a quarterly basis;
−Removed: however, the timing, declaration, amount and payment of future dividends to stockholders, if any, will depend on our financial condition, earnings, capital requirements and debt service obligations and fall within the discretion of our Board.
−Removed: Holders of shares of our common stock will be entitled to receive dividends when, and if, declared by our Board at its discretion out of funds legally available for that purpose, subject to the terms of our indebtedness, the preferential rights of any preferred stock that may be outstanding, legal requirements, regulatory constraints, industry practices and other factors that our Board deems relevant.
−Removed: Our credit agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, pay cash dividends.
−Removed: There can be no assurance that payment of a dividend will occur in the future.
−Removed: The Company paid dividends of approximately $3.5 million for the year ended December 31, 2021, with no dividends declared during 2020 and 2019.
+Added: During the period January 1, 2023 through February 3, 2023, the Company repurchased an additional 12,710 shares at a weighted average market price of $39.96 per share under the current authorized repurchase program.
+Added: The Company commenced the declaration of dividends on September 28, 2021.
+Added: Since commencement of dividends, the Company has declared dividends as follows:
+Added: Date of Announcement Date of Record Date Payable Dividend per Share Total Approximate Dividend Amount ($M)
+Added: 2/17/2023 3/3/2023 3/17/2023 $0.145 $4.0
+Added: 11/4/2022 11/15/2022 11/29/2022 $0.145 $4.0
+Added: 8/5/2022 8/16/2022 8/30/2022 $0.145 $4.1
+Added: 5/6/2022 5/17/2022 5/31/2022 $0.125 $3.5
+Added: 2/18/2022 3/1/2022 3/15/2022 $0.125 $3.5
+Added: 9/28/2021 11/9/2021 11/23/2021 $0.125 $3.5
+Added: The timing, declaration, amount and payment of future dividends to stockholders, if any, will be within the discretion of our Board.
+Added: Holders of shares of our common stock will be entitled to receive dividends when, and if, declared by our Board at its discretion out of funds legally available for that purpose, subject to the terms of our indebtedness, the preferential rights of any preferred stock that may be outstanding, legal requirements, regulatory constraints, industry practice and other factors that our Board deems relevant.
+Added: The Company paid dividends of approximately $15.1 million and $3.5 million for the years ended December 31, 2022 and 2021, with no dividends declared during 2020.
Performance Graph
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.