Common Stock

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Common Stock

COMMON STOCK

As of December 31, 2021 and 2020, there were 53,299,738 and 54,755,900 shares of our common stock outstanding, respectively.

We have paid quarterly dividends since October 25, 2011. We currently pay a regular quarterly dividend of $0.13 per share.

In September 2011, our Board of Directors (the “Board”) authorized a share repurchase program allowing us to begin repurchasing shares of our outstanding common stock. Subsequently, the Board has from time to time increased the amount of our common stock that we may repurchase under such program. Since the inception of the repurchase program, the Board has authorized us to repurchase up to $1.45 billion of our outstanding common stock. During the year ended December 31, 2021, we repurchased approximately 1.6 million shares of our common stock for approximately $195.5 million. Since the inception of the repurchase program through December 31, 2021, we have repurchased approximately 19.2 million shares of our common stock for approximately $1.10 billion. As of December 31, 2021, there remained authorization for us to repurchase approximately $350.4 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 2020 Credit Agreement placing limitations on such repurchases. The repurchase program has been and will be funded from our operations.