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Stockholders' Equity
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Preferred Stock

The Company has four separate series (Series A through D) of preferred stock outstanding. Two of these series (Series B and C) were issued in offerings using depositary shares. Dividends on the Series A, B and C preferred stock are payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the Company’s Board of Directors, quarterly in arrears on the 15th day of January, April, July and October of each year. Dividends on the Series D preferred stock are payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the Company’s Board of Directors, semi-annually in arrears on the 15th day of January and July of each year, commencing on January 15, 2019. On or after July 15, 2023, (or in the event of a fundamental change of the Company, at any time), the Series D preferred stock may be converted at the holder’s option into shares of the Company’s common stock.

The following table summarizes the Company’s preferred stock issued and outstanding as of June 30, 2020, and December 31, 2019.

SeriesDividend rate
per year		Shares of preferred stock issued and outstandingDepositary shares issued and outstandingLiquidation preference per shareAggregate liquidation preference
A7.50 %2,200,000  —  $25  $55,000  
B7.50 %165,000  6,600,000  $1,000  $165,000  
C7.50 %200,000  8,000,000  $1,000  $200,000  
D
Fixed/ Floating(1)
120  —  $250,000  $30,000  
2,565,120  $450,000  
(1) Dividend rate is fixed at 7.00% prior to July 15, 2023, and floating at six-month LIBOR plus 5.4941% thereafter.
Common and Preferred Stock Dividends

Dividends are payable on the Company’s common and preferred stock only when, as and if declared by the Company’s Board of Directors in its discretion, from funds legally available for this purpose. The following tables present the class of stock, declaration date and dividends paid per share:
Class of StockDeclaration DateDividend
Per Share		Dividend Per Depositary Share
Common stockApril 29, 2020$0.05  
Common stockFebruary 20, 2020$0.05  
Preferred stock Series AApril 29, 2020$0.46875  
Preferred stock Series AFebruary 20, 2020$0.46875  
Preferred stock Series B and Series CApril 29, 2020$18.75  $0.46875  
Preferred stock Series B and Series CFebruary 20, 2020$18.75  $0.46875  
Preferred stock Series DApril 29, 2020$8,750.00  

Class of StockDeclaration DateDividend
Per Share		Dividend Per Depositary Share
Common stockMay 6, 2019$0.04  
Common stockFebruary 25, 2019$0.04  
Preferred stock Series AMay 6, 2019$0.46875  
Preferred stock Series AFebruary 25, 2019$0.46875  
Preferred stock Series B and Series CMay 6, 2019$18.75  $0.46875  
Preferred stock Series B and Series CFebruary 25, 2019$18.75  $0.46875  
Preferred stock Series DMay 6, 2019$8,750.00  

Share Repurchase Program

On April 29, 2020, the Board of Directors authorized and approved a share repurchase program with a 12 month term for up to $50,000 aggregate purchase price of the Company’s outstanding common shares. During the second quarter of 2020, the Company purchased 459,083 common shares at a cost of $8,482. The Company’s purchases were made in the open market in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934. Pursuant to the terms of the merger agreement with The Allstate Corporation, the Company is prohibited from making any further common share repurchases prior to the close of the merger. See Note 17, “Subsequent Event” for additional information.
Shares Rollforward

The following table presents a roll forward of outstanding common shares.

Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Common stock:
Balance, beginning of the period113,708,996  113,137,346  113,368,811  112,940,595  
Shares issued under employee stock plans and exercises of stock options174,551  108,212  661,965  400,488  
Shares withheld related to net share settlement(26,919) (29,926) (174,148) (125,451) 
Balance, end of the period113,856,628  113,215,632  113,856,628  113,215,632  
Treasury stock:
Balance, beginning of the period—  —  —  —  
Repurchases of common stock(459,083) —  (459,083) —  
Balance, end of the period(459,083) —  (459,083) —  
Shares outstanding at end of the period 113,397,545  113,215,632  113,397,545  113,215,632