Note O – Dividend Policy

The Company’s dividend policy consists of a semi-annual cash dividend of $0.05 per common share ($0.10 per common share annually) which have been paid in March and September of each year. On February 23, 2022, the Board of Directors declared a semi-annual cash dividend of $0.05 per share with a payment date of March 24, 2022 to all common shareholders of record as of March 9, 2022. On September 9, 2022, the Board of Directors declared a semi-annual dividend of $0.05 per share with a payment date of September 30, 2022 to all common shareholders of record as of September 20, 2022. The Company’s dividend policy undergoes a periodic review by the Board of Directors and is subject to change at any time depending upon the Company’s earnings, financial requirements and other factors.