Stockholders' Equity

9 Months Ended

Sep. 30, 2015

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Amendment to the Certificate of Incorporation

On May 19, 2015, the Company’s stockholders approved an amendment to the Certificate of Incorporation increasing the total number of authorized shares of common stock from 50,000,000 to 100,000,000.

Dividends

The Board of Directors approved the following cash dividends in 2015 (in millions, except per share data):

Declaration Date	Dividends Per Share	Record Date	Cash Payment Amount	Payment Date
February 27, 2015	$0.13	March 12, 2015	$3.0	March 26, 2015
May 7, 2015	$0.13	May 22, 2015	$3.0	June 15, 2015
August 6, 2015	$0.13	August 21, 2015	$3.0	September 14, 2015
November 5, 2015	$0.16	November 20, 2015	N/A (1)	December 15, 2015

___________________________________________

(1) Amount will be determined based on common stock outstanding as of the record date.

Repurchase of Common Stock

The Company’s Board of Directors authorized a share repurchase program that may be discontinued or amended at any time. The program will expire when the amount authorized has been expended or the Board of Directors withdraws its authorization. As of September 30, 2015, the Company had $11.7 million available for future share repurchases under the program.

The following table summarizes the Company’s stock repurchase activities (in millions, except share and per share data):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2015		2014		2015		2014
Number of shares repurchased	49,511		47,717		148,419		130,917
Average price per share	$	60.59	$	48.89	$	60.63	$	40.82
Total repurchase costs	$	3.0	$	2.4	$	9.0	$	5.3