SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

The following table presents changes in common shares issued and outstanding:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Shares issued, balance at beginning of period	176,580		176,580		176,580		176,580
Shares issued	—		—		—		—
Total shares issued at end of period	176,580		176,580		176,580		176,580
Treasury shares, balance at beginning of period	(92,646	)	(93,062	)	(92,994	)	(93,419	)
Shares repurchased	(7	)	(26	)	(164	)	(175	)
Shares reissued	20		64		525		570
Total treasury shares at end of period	(92,633	)	(93,024	)	(92,633	)	(93,024	)
Total shares outstanding	83,947		83,556		83,947		83,556

Dividends

In the three months ended June 30, 2019, the total dividends declared per common share were $0.40, paid in July 2019 (2018: $0.39, paid in July 2018). In the six months ended June 30, 2019, the total cash dividends declared per common share were $0.80 per share, paid in April 2019 and July 2019 (2018: $0.78 paid in April 2018 and July 2018).

In the three months ended June 30, 2019, the total dividends declared on Series D preferred shares were $0.34375 per share, payable in September 2019 (2018: $0.34375, paid in September 2018). In the six months ended June 30, 2019, the total dividends declared on Series D preferred shares were $0.68750 per share, paid in June 2019 and payable in September 2019 (2018: $0.68750, paid in June 2018 and September 2018).

In the three months ended June 30, 2019, the total dividends declared on Series E preferred shares were $34.375 per share, paid in July 2019 (2018: $34.375, paid in July 2018). In the six months ended June 30, 2019, the total dividends declared on Series E preferred shares were $68.75 per share, paid in April 2019 and July 2019 (2018: $68.75, paid in April 2018 and July 2018).

Treasury Shares

The following table presents common share repurchased from shares held in Treasury:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
In the open market:
Total shares	—		—		—		—
Total cost	$	—	$	—	$	—	$	—
Average price per share(1)	$	—	$	—	$	—	$	—
From employees:(2)
Total shares	7		26		164		175
Total cost	$	411	$	1,512	$	9,414	$	8,676
Average price per share(1)	$	58.34	$	57.97	$	57.22	$	49.56
Total shares repurchased:
Total shares	7		26		164		175
Total cost	$	411	$	1,512	$	9,414	$	8,676
Average price per share(1)	$	58.34	$	57.97	$	57.22	$	49.56

(1) Calculated using whole numbers.

(2)

Shares are repurchased from employees to satisfy withholding tax liabilities related to the vesting of share-settled restricted stock units.