STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

The Company's Board of Directors declared and paid the following dividends during the three and nine months ended September 30, 2020 and 2019 (payment amount in millions):

Declaration Date	Dividend per Share	Record Date	Payment Date	Payment Amount
July 27, 2020	$0.09	September 8, 2020	September 22, 2020	$6.1
April 23, 2020	$0.09	June 11, 2020	June 25, 2020	$6.1
January 27, 2020	$0.09	March 4, 2020	March 18, 2020	$6.1
July 29, 2019	$0.08	September 6, 2019	September 20, 2019	$5.4
May 7, 2019	$0.08	June 11, 2019	June 25, 2019	$5.4
January 28, 2019	$0.08	March 5, 2019	March 19, 2019	$5.4

On October 26, 2020, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.09 per share, payable to stockholders of record as of December 4, 2020. The dividend, which is expected to total approximately $6.1 million, will be paid on December 18, 2020, out of the Company’s available cash.

Share Repurchase

In March 2018, the Company's Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to $25 million of common stock. During March 2020, the Company repurchased and retired 241,180 shares at a weighted average purchase price of $16.33 for a total value of $3.9 million under the repurchase program. The Company has made no other repurchases under its share repurchase program.