Capital Stock

6 Months Ended

Jun. 30, 2014

Capital Stock

Capital Stock

4.Capital Stock

Authorized capital stock consists of 200 million shares of common stock and 15 million shares of preferred stock.  At June 30, 2014, there were no shares of preferred stock outstanding.  A summary of our common stock activity for the six months ended June 30, 2014 follows:

(in thousands)
Issued and outstanding as of December 31, 2013	87,152
Issuance of restricted stock awards	14
Common stock reacquired and retired	(117)
Restricted stock forfeited and retired	(101)
Option exercises, net of cancellations	74
Issued and outstanding as of June 30, 2014	87,022

Dividends

In May 2014, the Board of Directors declared a cash dividend of $0.16 per share.  The dividend is payable on September 2, 2014 to stockholders of record on August 15, 2014.  Future dividend payments will depend on our level of earnings, financial requirements, and other factors considered relevant by the Board of Directors.