EQUITY

12 Months Ended

Dec. 31, 2012

Equity [Abstract]

Equity

EQUITY

Common Stock

On August 1, 2011, the Company completed an underwritten public offering of 11.7 million newly issued shares of its common stock pursuant to a registration statement filed with the Securities Exchange Commission (“SEC”) that became effective on July 26, 2011.  The Company received net proceeds, before expenses, of $163.9 million from the offering, after giving effect to the issuance and sale of all 11.7 million shares of common stock (which included 1.5 million shares sold to the underwriters upon exercise of their option to purchase additional shares to cover over-allotments), at a price to the public of $14.75 per share.

The following is a summary of the Company’s other common stock issuances during the years ended December 31, 2012 and 2011:

	Year Ended December 31,
	2012	2011
Exercise of stock options	41,640	45,657
Vesting of common stock units	165,857	54,983

The following table lists the cash dividends on common stock paid and declared by the Company during the years ended December 31, 2012 and 2011:

Declaration Date	Record Date	Amount Per Share		Dividend Payable Date
May 3, 2011	May 16, 2011	$	0.32	June 2, 2011
August 2, 2011	August 15, 2011	$	0.32	September 2, 2011
November 2, 2011	November 15, 2011	$	0.32	December 2, 2011
February 29, 2012	March 15, 2012	$	0.33	March 30, 2012
April 24, 2012	May 15, 2012	$	0.33	May 31, 2012
August 1, 2012	August 15, 2012	$	0.33	August 31, 2012
October 29, 2012	November 15, 2012	$	0.33	November 30, 2012

Distributions with respect to the Company’s common stock can be characterized for federal income tax purposes as taxable ordinary dividends, capital gain dividends, nondividend distributions (return of capital) or a combination thereof. Following is the characterization of the Company’s cash dividends on common stock per share during the years ended December 31, 2012 and 2011:

	Year Ended December 31,
	2012		2011
Ordinary dividends	$	0.7992	$	0.7833
Nondividend distributions	0.5208		0.1767
	$	1.3200	$	0.9600

On January 7, 2013, the Company announced that its board of directors declared a quarterly cash dividend of $0.34 per share of common stock. The dividend was paid on February 28, 2013 to stockholders of record as of the close of business on February 15, 2013.