Quarterly report pursuant to Section 13 or 15(d)

Dividends

v2.4.0.8
Dividends
 9 Months Ended
Jun. 30, 2014
Dividends [Abstract]  
Dividends

Note 10 – Dividends

 

Beginning February 16, 2010, through June 30, 2014, the Company has paid 18 quarterly cash dividends.  The first 9 were paid at a quarterly rate per share of $0.05 through February 9, 2012, 4 were paid at a quarterly rate per share of $0.06 from May 9, 2012 through February 6, 2013, and 5 were paid at a quarterly rate per share of $0.07 from May 8, 2013 through May 7, 2014.  The Company paid cash dividends of approximately $6.1 million and $5.5 million during the nine months ended June 30, 2014 and 2013, respectively. 

 

On July 14, 2014, the Company announced that its Board of Directors has elected to suspend the payment of quarterly cash dividends in order to devote operating cash flows towards strategic growth initiatives.