|6 Months Ended|
Jun. 30, 2017
|Notes to Financial Statements|
|NOTE N - DIVIDEND||
On December 7, 2016, the Board of Directors of the Company approved the initiation of a dividend policy providing for the payment of a regular semi-annual cash dividend of $0.05 per common share ($0.10 per common share annually) commencing in 2017. The Company anticipates paying the semi-annual cash dividends in March and September of each year. It is anticipated that the semi-annual cash regular dividend will continue to be paid through March 2020 (the expiration of the Company's Remote Power Patent) provided that the Company continues to receive royalties from licensees of its Remote Power Patent.
On February 2, 2017, the Board of Directors of the Company declared an initial semi-annual cash dividend of $0.05 per common share with a payment date of March 24, 2017 to all common stockholders of record as of March 3, 2017.
At June 30, 2017, the Company accrued dividends of $42,000 for unvested restricted stock units with dividend equivalent rights.
The entire disclosure of statutory restrictions on the payment of dividends as prescribed by the National Association of Insurance Commissioners or state regulatory authorities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef