Equity

3 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

Equity

Equity

Dividend payments of $0.10 per share and $0.05 per share were paid to common stockholders for the three months ended March 31, 2022 and 2021, respectively. In addition, dividend equivalent payments of $0.7 million and $0.3 million were paid to or accrued for holders of restricted stock units for each of the three months ended March 31, 2022 and 2021, respectively.

During the three months ended March 31, 2022, the Company repurchased 481,674 common shares through open market transactions at an average price of $18.57, for a total cost of $8.9 million. Additionally, during the three months ended March 31, 2022, 1,274,458 restricted stock units vested and were settled in shares of common stock of which the Company is deemed to have repurchased 581,011 shares at an average price of $18.74 per share for a total cost of $10.9 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, 2021, the Company repurchased 337,739 common shares through open market transactions at an average price of $14.81, for a total cost of $5.0 million. Additionally, during the three months ended March 31, 2021, 1,474,940 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 635,027 shares at an average price of $15.03 per share for a total cost of $9.5 million in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units.