Equity

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Equity

Equity

On March 18, 2020, a dividend of $0.05 per share was paid to stockholders of record on March 4, 2020. For both the three months ended March 31, 2020 and 2019, total dividend payments of $0.05 per share were paid to stockholders and dividend equivalent payments of $0.3 million were paid to or accrued for holders of restricted stock units.

During the three months ended March 31, 2020, the Company repurchased 489,704 common shares through open market transactions at an average price of $17.18, for a total cost of $8.4 million. Additionally, during the three months ended March 31, 2020, 1,539,706 restricted stock units vested and were settled in shares of common stock of which the Company is deemed to have repurchased 640,642 shares at an average price of $21.30 per share for a total cost of $13.6 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 three months ended March 31, 2019, the Company repurchased 436,885 common shares through open market transactions at an average price of $26.68, for a total cost of $11.7 million. Additionally, during the three months ended March 31, 2019, 1,219,545 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 499,786 shares at an average price of $25.50 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.