SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2025 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the internal tax framework and the restoration of favorable tax treatment for certain business provisions. The OBBBA has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company is currently assessing the legislation’s impact on its consolidated financial statements. On August 5, 2025, the Board declared a regular quarterly cash dividend of $0.08 per share of common stock, equivalent to $0.32 per share of common stock on an annual basis. The cash dividend will be paid on September 19, 2025, to all holders of record of common stock at the close of business on September 5, 2025. This cash dividend of approximately $4.6 million is expected to be paid from available cash on hand.
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