Common Stock

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Common Stock

Common Stock        

As of September 30, 2019 and December 31, 2018, there were 56,147,875 and 55,983,763 shares of our common stock outstanding, respectively.

During the three months ended September 30, 2019 and 2018, we issued 18,651 and 47,125 shares of common stock, respectively. During the nine months ended September 30, 2019 and 2018, we issued 164,112 and 218,055 shares of common stock, respectively. These shares were issued primarily upon: (a) the satisfaction of required conditions under certain of our share-based compensation plans and (b) the purchase of common stock pursuant to our employee stock purchase plan.

We have paid quarterly dividends since October 25, 2011. We currently pay a regular quarterly dividend of $0.08 per share.

On September 26, 2011, our Board of Directors (the “Board”) authorized us to repurchase up to $100.0 million of our outstanding common stock. Subsequently, the Board has from time to time increased the amount of our common stock that we may repurchase. Since the inception of the repurchase program, the Board has authorized us to repurchase up to $950.0 million of our outstanding common stock. No shares of our common stock were repurchased during the nine months ended September 30, 2019. Since the inception of the repurchase program through September 30, 2019, we have repurchased approximately 15.9 million shares of our common stock for approximately $791.5 million. As of September 30, 2019, there remained authorization for us to repurchase approximately $158.5 million of our shares. The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended, recommenced or discontinued at any time or from time to time without prior notice. We may repurchase our shares from time to time to the extent permitted by securities laws and other legal requirements, including provisions in our 2016 Credit Agreement, placing limitations on such repurchases. The repurchase program has been and will be funded from our operations.