Capital Markets Issuance of Shares (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Common And Preferred Shares Disclosure [Text Block]

During the six months ended June 30, 2020, the Company's Board approved a share repurchase program pursuant to which the Company may repurchase up to $150.0 million of the Company's common shares. The share repurchase program was scheduled to expire on December 31, 2020; however, the Company suspended the program on the effective date of the covenant modification agreements, June 29, 2020, as discussed below. During the six months ended June 30, 2020, the Company repurchased 4,066,716 common shares under the share repurchase program for approximately $106.0 million. The repurchases were made under a Rule 10b5-1 trading plan.

The Board declared regular monthly cash dividends on its common shares during the three and six months ended June 30, 2020 totaling $0.3825 and $1.5150 per common share, respectively. The monthly cash dividend to common shareholders was suspended following the common share dividend paid on May 15, 2020 to shareholders of record as of April 30, 2020.

During the three and six months ended June 30, 2020, the Board also declared cash dividends of $0.359375 and $0.71875 per share, respectively, on its 5.75% Series C cumulative convertible preferred shares, $0.5625 and $1.125 per share, respectively, on its 9.00% Series E cumulative convertible preferred shares and $0.359375 and $0.71875 per share, respectively, on its 5.75% Series G cumulative redeemable preferred shares.