STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2013

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

6.     STOCKHOLDERS' EQUITY

Stock repurchase program

        On March 4, 2013, the Board of Directors approved an open market stock repurchase program, pursuant to which the Company will repurchase up to 2.5 million shares of common stock in the market for use under the Company's 2013 Equity Incentive Plan (the "Plan"). During the six months ended June 30, 2013, the Company repurchased 1,327,093 shares of its common stock at an average price of $12 per share for a total of $16,027. Treasury stock is accounted for under the cost method.

        As of December 31, 2012, and June 30, 2013 the Company's issued and outstanding share capital was as follows:

Type	December 31, 2012		June 30, 2013
Common stock issued		158,160,719		158,210,719
Less: Common stock held in treasury		—		(1,327,093	)
Common stock outstanding		158,160,719		156,883,626

Dividends

        In 2013, the following dividends were declared and paid:

Declaration date	Per Share Dividend		Aggregate Dividend		Record Date	Payment Date
March 5, 2013	$	0.15	$	23,724	March 20, 2013	March 26 and April 9, 2013
April 30, 2013	$	0.16	$	25,206	June 3, 2013	June 26, 2013

        The following table summarizes the changes in stockholders' equity during the six months ended June 30, 2012 and 2013:

	Total			CTC Media, Inc. stockholders			Noncontrolling interest
Stockholders' equity, December 31, 2011	$	697,208		$	693,972		$	3,236
Net Income		69,051			66,668			2,383
Other comprehensive (loss)/income		(16,787	)		(16,821	)		34
Comprehensive income		52,264			49,847			2,417
Share capital		9			9			—
Additional paid-in capital		7,507			7,507			—
Dividends declared		(44,186	)		(41,122	)		(3,064	)
Stockholders' equity, June 30, 2012	$	712,802		$	710,213		$	2,589

	Total			CTC Media, Inc. stockholders			Noncontrolling interest
Stockholders' equity, December 31, 2012	$	762,926		$	758,323		$	4,603
Net Income		63,257			60,181			3,076
Other comprehensive loss		(56,485	)		(56,357	)		(128	)
Comprehensive income		6,772			3,824			2,948
Additional paid-in capital		2,291			2,291			—
Less: Common stock held in treasury		(16,027	)		(16,027	)		—
Dividends declared		(52,235	)		(48,930	)		(3,305	)
Stockholders' equity, June 30, 2013	$	703,727		$	699,481		$	4,246