Subsequent Events |
6 Months Ended |
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Jun. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On August 1, 2024, the Board of Directors declared a semi-annual regular dividend of $0.25 per share, or approximately $10.2 million, with a payment date of October 4, 2024, to stockholders of record at the close of business on September 16, 2024.
In connection with the Strategic Alliance with MTRCC, the Company holds a $9.5 million investment in MTRCC Mandatorily Redeemable Fixed-Rate Cumulative Preferred Stock classified as held-to-maturity, which matures on September 1, 2024. Upon the redemption of the above shares, the Company has committed to purchase $9.5 million of Mandatorily Redeemable Fixed-Rate Cumulative Preferred Stock of MTRCC on September 1, 2024. The preferred stock will accrue dividends, as and if declared, based on the one-year treasury rate.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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