Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Shareholder Return Plan

In February of 2021, the Company’s Board of Directors approved a three-year, $375 million shareholder return plan (the “Plan”), supporting increased stock repurchases and growth in the Company’s cash dividend. The Plan replaces the Company’s previous $60 million stock repurchase program, which was terminated, with funds totaling $49.6 million remaining that were unused.

Dividends

The Board of Directors approved the following cash dividends in 2021 (in millions, except per share data):

Declaration Date	Dividend Per Share	Record Date	Cash Payment Amount	Payment Date
March 1, 2021	$0.13	March 15, 2021	$6.2	March 26, 2021
May 5, 2021	$0.13	May 21, 2021	N/A(1)	June 25, 2021

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

Repurchase of Common Stock

The timing, price and volume of purchases under the Plan are based on market conditions, cash and liquidity requirements, relevant securities laws and other factors. The Plan may be discontinued or amended at any time. The Plan has no expiration date and terminates when the amount authorized has been expended or the Board of Directors withdraws its authorization.