STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2013

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

7. 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 was authorized to 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 nine months ended September 30, 2013, the Company repurchased 2,500,000 shares of its common stock at an average price of $11.9 per share for a total of $29,727. Treasury stock is accounted for under the cost method.

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

Type	December 31, 2012		September 30, 2013
Common stock issued		158,160,719		158,210,719
Less: Common stock held in treasury		—		(2,500,000	)
Common stock outstanding		158,160,719		155,710,719

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 8, 2013
April 30, 2013	$	0.16	$	25,216	June 3, 2013	June 26, 2013
August 2, 2013	$	0.16	$	24,914	September 2, 2013	September 26, 2013

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

	Total			CTC Media, Inc. stockholders			Noncontrolling interest
Stockholders' equity, December 31, 2011	$	697,208		$	693,972		$	3,236
Net income		30,270			28,188			2,082
Other comprehensive income		26,860			26,739			121
Comprehensive income	$	57,130		$	54,927		$	2,203
Share capital		9			9			—
Additional paid-in capital		8,850			8,850			—
Dividends declared		(65,878	)		(61,683	)		(4,195	)
Stockholders' equity, September 30, 2012	$	697,319		$	696,075		$	1,244

	Total			CTC Media, Inc. stockholders			Noncontrolling interest
Stockholders' equity, December 31, 2012	$	762,926		$	758,323		$	4,603
Net income		111,349			106,836			4,513
Other comprehensive loss		(47,922	)		(47,820	)		(102	)
Comprehensive income	$	63,427		$	59,016		$	4,411
Additional paid-in capital		3,326			3,326
Less: Common stock held in treasury		(29,727	)		(29,727	)		—
Dividends declared		(78,877	)		(73,854	)		(5,023	)
Stockholders' equity, September 30, 2013	$	721,075		$	717,084		$	3,991