Equity

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Equity

Equity

On March 16, 2016, a dividend of $0.45 per share was paid to stockholders of record on March 2, 2016. Dividends include dividend equivalents of $2.0 million and $1.6 million, which were paid on outstanding restricted stock units for the three months ended March 31, 2016 and 2015, respectively.

During the three months ended March 31, 2016, 784,060 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 303,035 shares at an average price of $25.37 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.

During the three months ended March 31, 2015, 731,251 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 307,007 shares at an average price of $34.40 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.