| Equity |
15. Equity The following table reconciles our equity for the three and nine months ended September 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | Capital in | | | | | Other | | | Common | | Excess of | | Reinvested | | Comprehensive | | | Stock | | Par Value | | Earnings | | Loss | | | | (Dollars in thousands) | Balance, January 1, 2026 | | $ | 9,532 | | $ | 73,967 | | $ | 169,923 | | $ | (13,854) | Net earnings | | | — | | | — | | | 6,121 | | | — | Foreign currency translation adjustments | | | — | | | — | | | — | | | 100 | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | 15 | Cash dividends declared ($0.27 per share) | | | — | | | — | | | (2,574) | | | — | Stock options exercised, net of shares withheld for employee taxes and strike price | | | 2 | | | 11 | | | — | | | — | Restricted stock forfeited | | | (1) | | | 1 | | | — | | | — | Share-based compensation expense | | | — | | | 434 | | | — | | | — | Shares purchased and retired | | | (1) | | | — | | | (33) | | | — | Balance, March 31, 2026 | | $ | 9,532 | | $ | 74,413 | | $ | 173,437 | | $ | (13,739) | Net earnings | | | — | | | — | | | 13,315 | | | — | Foreign currency translation adjustments | | | — | | | — | | | — | | | 61 | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | 15 | Cash dividends declared ($0.28 per share) | | | — | | | — | | | (2,668) | | | — | Stock options exercised, net of shares withheld for employee taxes and strike price | | | 1 | | | (1) | | | — | | | — | Restricted stock forfeited | | | (2) | | | 2 | | | — | | | — | Share-based compensation expense | | | — | | | 429 | | | — | | | — | Balance, June 30, 2026 | | $ | 9,531 | | $ | 74,843 | | $ | 184,084 | | $ | (13,663) | Net earnings | | | | | | | | | 11,511 | | | | Foreign currency translation adjustments | | | — | | | — | | | — | | | 95 | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | 14 | Cash dividends declared ($0.28 per share) | | | — | | | — | | | (2,655) | | | — | Stock options exercised, net of shares withheld for employee taxes and strike price | | | 59 | | | (344) | | | — | | | — | Issuance of restricted stock | | | 48 | | | (48) | | | — | | | — | Net share settlement of restricted stock | | | (9) | | | (408) | | | — | | | — | Restricted stock forfeited | | | (3) | | | 3 | | | — | | | — | Share-based compensation expense | | | — | | | 478 | | | — | | | — | Balance, September 30, 2026 | | $ | 9,626 | | $ | 74,524 | | $ | 192,940 | | $ | (13,554) |
On November 3, 2026, our Board of Directors declared a cash dividend of $0.28 per share to all shareholders of record on November 17, 2026, payable January 8, 2027. Additionally, on November 3, 2026, our Board of Directors declared a special cash dividend of $2.00 per share to all shareholders of record on November 17, 2026, payable January 8, 2027. The Company’s total cash outlay for this special dividend is expected to be approximately $19.0 million. The following table reconciles our equity for the three and nine months ended September 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | Capital in | | | | | Other | | | Common | | Excess of | | Reinvested | | Comprehensive | | | Stock | | Par Value | | Earnings | | Loss | | | | (Dollars in thousands) | Balance, January 1, 2025 | | $ | 9,643 | | $ | 72,577 | | $ | 181,299 | | $ | (17,934) | Net earnings | | | — | | | — | | | 5,543 | | | — | Foreign currency translation adjustments | | | — | | | — | | | — | | | 192 | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | 41 | Cash dividends declared ($0.26 per share) | | | — | | | — | | | (2,506) | | | — | Stock options exercised, net of shares withheld for employee taxes and strike price | | | 1 | | | (1) | | | — | | | — | Share-based compensation expense | | | — | | | 427 | | | — | | | — | Shares purchased and retired | | | (25) | | | — | | | (707) | | | — | Balance, March 31, 2025 | | $ | 9,619 | | $ | 73,003 | | $ | 183,629 | | $ | (17,701) | Net earnings | | | — | | | — | | | 2,256 | | | — | Foreign currency translation adjustments | | | — | | | — | | | — | | | 1,824 | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | 41 | Cash dividends declared ($0.27 per share) | | | — | | | — | | | (2,581) | | | — | Share-based compensation expense | | | — | | | 375 | | | — | | | — | Shares purchased and retired | | | (80) | | | — | | | (2,323) | | | — | Balance, June 30, 2025 | | $ | 9,539 | | $ | 73,378 | | $ | 180,981 | | $ | (15,836) | Net earnings | | | — | | | — | | | 6,586 | | | — | Foreign currency translation adjustments | | | — | | | — | | | — | | | (2) | Pension liability adjustment, net of tax | | | — | | | — | | | — | | | — | Cash dividends declared ($0.27 per share) | | | — | | | — | | | (2,571) | | | — | Stock options exercised, net of shares withheld for employee taxes and strike price | | | 1 | | | (2) | | | — | | | — | Issuance of restricted stock | | | 65 | | | (65) | | | — | | | — | Net share settlement of restricted stock | | | (7) | | | (221) | | | — | | | — | Restricted stock forfeited | | | (1) | | | 1 | | | — | | | — | Share-based compensation expense | | | — | | | 444 | | | — | | | — | Shares purchased and retired | | | (31) | | | — | | | (932) | | | — | Balance, September 30, 2025 | | $ | 9,566 | | $ | 73,535 | | $ | 184,064 | | $ | (15,838) |
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