Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 11 — Stockholders’ Equity

Common Stock

On January 22, 2013, the Company’s Board of Directors declared a quarterly dividend of $0.225 per common share. The dividends were paid on March 15, 2013 to stockholders of record on February 15, 2013.

Common Stock Warrants

All common stock warrants were either exercised or cancelled during the year ended December 31, 2012.

Preferred Stock

As of March 31, 2013, 210,555 shares of Series A cumulative convertible preferred stock (“Series A Preferred”) remain outstanding. During the three months ended March 31, 2013, holders of 30,627 shares of Series A Preferred converted their Series A Preferred shares to 30,627 shares of common stock.

On March 7, 2013, the Company’s Board of Directors declared a cash dividend on its Series A Preferred shares in the amount of $0.05833 per share for each of the months of March, April, and May 2013. The March dividend was paid on April 29, 2013 to shareholders of record at the close of business on April 1, 2013. The April dividend is payable on May 28, 2013 to shareholders of record at the close of business on May 1, 2013. The May dividend is payable on June 27, 2013 to shareholders of record at the close of business on June 3, 2013.