Stockholders' Equity

9 Months Ended

Sep. 30, 2017

Stockholders’ Equity

Dividends

The Board of Directors approved the following cash dividends in 2017 (in millions, except per share data):



Declaration Date	Dividends Per Share	Record Date	Cash Payment Amount	Payment Date
February 28, 2017	$0.09	March 13, 2017	$4.2	March 28, 2017
May 8, 2017	$0.09	May 25, 2017	$4.2	June 22, 2017
August 7, 2017	$0.09	August 29, 2017	$4.2	September 15, 2017
November 6, 2017	$0.10	November 28, 2017	N/A ⁽¹⁾	December 22, 2017

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

Repurchase of Common Stock

On August 28, 2017, the Company's Board of Directors authorized a new $40.0 million stock repurchase program (the "Program"). At the time of the approval, we had $0.2 million remaining under our prior stock repurchase program which was subsequently retired unused. The timing, price and volume of purchases under the Program are based on market conditions, cash and liquidity requirements, relevant securities laws and other factors. The Program may be discontinued or amended at any time. The Program has no expiration date and terminates when the amount authorized has been expended or the Board withdraws its authorization. As of September 30, 2017, there was $38.6 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				Nine Months Ended
	September 30,⁽¹⁾				September 30,⁽¹⁾
	2017		2016		2017		2016
Number of shares repurchased	131,669		99,210		131,669		188,126
Average price per share	$	27.74	$	37.77	$	27.74	$	38.52
Total repurchase costs	$	3.6	$	3.7	$	3.6	$	7.2

(1) Amounts have been rounded for presentation purposes and might differ from unrounded results.