Common Shareholders' Equity

9 Months Ended

Sep. 30, 2011

Common Shareholders' Equity

Common Shareholders' Equity

NOTE 14. Common Shareholders’ Equity

Common Shares Repurchased and Retired

On August 22, 2007, the Company’s Board authorized the repurchase of up to $200.0 million of its Class A common shares from time to time, subject to market conditions. Shares may be repurchased on the open market or through privately negotiated transactions. This program does not have a stated expiration date. During the three and nine months ended September 30, 2010, the Company repurchased and retired 0.3 million and 0.7 million, respectively, of its Class A common shares for $4.6 million and $10.5 million, respectively.

Dividends on Common shares

During the nine months ended September 30, 2011, the Company declared and paid cash dividends totaling $154.8 million, or $1.63 per common share, including $59.7 million, or $0.63 per common share, of regular quarterly cash dividends and $95.1 million, or $1.00 per common share, of a special dividend. During the nine months ended September 30, 2010, the Company declared and paid cash dividends totaling $295.8 million, or $3.13 per common share, including $59.7 million, or $0.63 per common share, of regular quarterly cash dividends and $236.1 million, or $2.50 per common share, of a special dividend.