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This figure does not include an estimate of the indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and clearing agencies.
+Added: During 2023, our Board of Directors declared four quarterly cash dividends and one special dividend totaling $3.00 per share on our Classes A shares.
+Added: These dividends totaling approximately $18.6 million were accrued or paid during 2023.
+Added: See Note 1 of the financial statements for specific details on the dividends.
During 2022, our Board of Directors declared four quarterly cash dividends and two special dividends totaling $4.86 per share on our Classes A and B shares.
1 unchanged sentence
In December 2022, the Board of Directors adopted a new variable dividend policy for the allocation of cash flows aligned with the Company’s goals of maintaining a strong balance sheet, increasing cash returns to shareholders, and continuing to grow the Company through strategic acquisitions.
−Removed: Under the new policy, in addition to any quarterly and special dividends paid, the Company will declare an additional dividend in the second quarter of each year of 70% of the preceding year’s annual Free Cash Flow, as reported in the Company’s fourth quarter earnings release, net of acquisitions, special and quarterly dividends, debt paydowns and debt issuance costs, and stock buybacks.
See Note 1 of the financial statements for specific details on the dividends.
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See Note 1 of the financial statements for specific details on the dividends.
−Removed: During 2020, our Board of Directors declared one quarterly cash dividends totaling $0.32 per share on our Classes A and B shares.
−Removed: These dividends totaling approximately $1.9 million were paid during 2020.
−Removed: In the second quarter of 2020, our Board of Directors announced that it was temporarily suspending the quarterly cash dividend in response to the continued uncertainty of the ongoing impact of COVID-19.
−Removed: See Note 1 of the financial statements for specific details on the dividends.
−Removed: The Company currently intends to declare regular quarterly cash dividends, special dividends, variable dividends, and stock buybacks in the future consistent with its goals as previously stated.
−Removed: The declaration and payment of any future dividend, whether fixed, special, or based upon the variable policy, will remain at the full discretion of the Company’s Board of Directors and will depend upon the Company’s financial results, cash requirements, future expectations, and other factors that the Company’s Board of Directors finds relevant at the time of considering any potential dividend declaration.
−Removed: Securities Authorized for Issuance Under Equity Compensation Plan Information
−Removed: The following table sets forth as of December 31, 2022, the number of securities outstanding under our equity compensation plans, the weighted average exercise price of such securities and the number of securities available for grant under these plans:
−Removed: Available for
−Removed: Future Issuance
−Removed: Weighted-Average
−Removed: Exercise Price of
−Removed: Outstanding Options,
−Removed: Warrants, and
−Removed: Plan Category
−Removed: Equity Compensation Plans Approved by Shareholders:
−Removed: Employees’ 401(k) Savings and Investment Plan
−Removed: 2005 Incentive Compensation Plan
−Removed: Equity Compensation Plans Not Approved by Shareholders:
−Removed: (1) All 91,120 shares are restricted stock.
−Removed: (2) Weighted-Average Exercise Price of Outstanding Options is $0.00 as they are all restricted stock.
+Added: The Company currently intends to declare regular quarterly cash dividends as well as variable dividends in accordance with the terms of its variable dividend policy.
+Added: As previously reported, our Board adopted a variable dividend policy for the allocation of available cash aligned with the goals of maintaining a strong balance sheet, increasing cash returns to shareholders, and continuing to grow the Company through strategic acquisitions.
+Added: The Company may also declare special dividends and implementation of stock buybacks in future periods.
+Added: The declaration and payment of any future dividend, whether fixed, special, or based on the variable policy, or the implementation of any stock buyback program will remain at the full discretion of the Board and will depend on the Company’s financial results, cash requirements, future expectations, and other pertinent factors.
Recent Sales of Unregistered Securities
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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.