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Equity
6 Months Ended
Jun. 30, 2018
Stockholders' Equity Note [Abstract]  
Equity
Equity
On June 20, 2018, a dividend of $0.05 per share was paid to stockholders of record on June 6, 2018. For the six months ended June 30, 2018, dividend payments of $0.10 per share were paid to stockholders and dividend equivalent payments of $0.6 million were paid to holders of restricted stock units. During the six months ended June 30, 2017, dividend payments of $0.90 per share were paid to stockholders and dividend equivalent payments of $4.1 million were paid to holders of restricted stock units.
In October 2017, the Company commenced a recapitalization plan to repurchase up to $285.0 million of its common stock. During the six months ended June 30, 2018, the Company repurchased 4,886,382 common shares through a modified Dutch auction tender and open market transactions at an average price of $22.87, for a total cost of $111.8 million.
During the six months ended June 30, 2018, 1,065,587 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 397,580 shares at an average price of $18.99 per share for a total cost of $7.5 million in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.
During the six months ended June 30, 2017, 1,049,998 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 432,121 shares at an average price of $29.46 per share for a total cost of $12.7 million in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.