Equity

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Equity

Note 10 — Equity

Dividends declared and paid on outstanding common shares were $0.40 for the year ended December 31, 2022 and $0.20 for each of the years ended 2021 and 2020, respectively. In addition, dividend equivalent payments of $2.6 million, $1.4 million

and $1.1 million were paid to or accrued for holders of restricted stock units for the years ended December 31, 2022, 2021 and 2020, respectively. See “Note 13 — Deferred Compensation — Restricted Stock Units”.

During 2022, 2,628,619 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 1,219,839 shares at an average price of $14.57 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units. In addition, the Company repurchased 1,745,028 shares of common stock through open market transactions at an average price of $12.70 per share.

During 2021, 1,891,362 restricted stock units vested and were settled in shares of common stock, of which the Company is deemed to have repurchased 814,020 shares at an average price of $15.16 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units. In addition, the Company repurchased 2,041,179 shares of common stock through open market transactions at an average price of $16.06 per share.