Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 19 — Subsequent Events

The Company evaluates subsequent events through the date on which the financial statements are issued.

On February 6, 2018, the Board of Directors of the Company declared a quarterly dividend of $0.05 per share. The dividend will be payable on March 21, 2018 to the common stockholders of record on March 7, 2018.

On February 13, 2018, the Company launched a modified Dutch auction tender offer to repurchase up to $110.0 million in value of its common stock at a price not greater than $20.50 per share nor less than $18.50 per share.  The Company will determine from the prices specified by the tendering stockholders the lowest single price specified that will allow it to purchase the shares at an aggregate purchase price of up to $110.0 million. The tender offer is scheduled to expire on March 14, 2018, subject to extension. As of February 12, 2018, the Company had remaining share repurchase authorization of $212.7 million, which will be reduced to $102.7 million if the tender offer is fully subscribed. Following completion of the tender offer and the 10 business day period provided by the tender offer rules, the remainder of the $285.0 million share repurchase program may be implemented through open market purchases or other means. The price and timing of share repurchases, as well as the total funds ultimately expended, will be subject to market conditions and other factors.