Item 8.01 Other Events
Declaration of Quarterly Cash Dividend
On April 21, 2020, the Board of Directors of the Company declared a quarterly cash dividend of $0.07 per share of common stock. The
dividend will be paid on or about June 19, 2020, to stockholders of record as of the close of business on June 5, 2020. The Company announced the declaration of the dividend in its Press Release dated April 24, 2020, a copy of which
is attached hereto as Exhibit 99.1.
Temporary Suspension of Stock Repurchase Program
On April 24, 2020, the Company announced that it has temporarily suspended repurchases under its stock repurchase program, the adoption of
which was previously announced on January 24, 2020. This announcement was made in the Companys Press Release dated April 24, 2020, a copy of which is attached hereto as Exhibit 99.1.
Supplement to Companys Risk Factors COVID-19
The Company hereby supplements the Risk Factors section in Item 1A of the Companys Annual Report on Form 10-K for the year ended December 31, 2019 with following additional risk factor:
The Companys business, financial condition, liquidity and results of operations have been, and will likely continue
to be, adversely affected by the COVID-19 pandemic.
The COVID-19 pandemic has negatively impacted the local, state, national, and world economies. The pandemic has created economic and financial disruptions that have adversely affected, and are likely to continue to
adversely affect, the Companys business, financial condition, liquidity and results of operations. The extent to which the COVID-19 pandemic will continue to negatively affect our business, financial
condition, liquidity and results of operations will depend on future developments, which are highly uncertain and cannot be predicted, including the scope and duration of the pandemic, the continued effectiveness of the Companys business
continuity plan, the direct and indirect impact of the pandemic on the Companys employees, customers, clients, and service providers, as well as other market participants, and actions taken by governmental authorities and other third parties
in response to the pandemic.
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