Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Equity

Equity

On September 16, 2020, a dividend of $0.05 per share was paid to stockholders of record on September 2, 2020. For both the nine months ended September 30, 2020 and 2019, total dividend payments of $0.15 per share were paid to stockholders. Dividend equivalent payments of $1.0 million were paid to or accrued for holders of restricted stock units for each of the nine months ended September 30, 2020 and 2019, respectively.

During the nine months ended September 30, 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 nine months ended September 30, 2020, 1,813,253 restricted stock units vested and were settled in shares of common stock of which the Company is deemed to have repurchased 743,344 shares at an average price of $19.69 per share for a total cost of $14.6 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 nine months ended September 30, 2019, the Company repurchased 1,841,396 common shares through open market transactions at an average price of $17.70, for a total cost of $32.6 million. Additionally, during the nine months ended September 30, 2019, 1,368,985 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 557,255 shares at an average price of $24.53 per share for a total cost of $13.7 million in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.