EQUITY (Notes)

12 Months Ended

Dec. 31, 2019

Class of Stock [Line Items]

Stockholders' Equity Note Disclosure [Text Block]

EQUITY

Preferred Stock - At December 31, 2019, we had 50 million, $0.01 par value, authorized shares of preferred stock available. We have not issued or established any classes or series of shares of preferred stock.

Common Stock - At December 31, 2019, we had approximately 197.2 million shares of authorized common stock available for issuance.

Treasury Shares - We are authorized to purchase treasury shares to be used to offset shares issued under our equity compensation plan and the ESPP. Our Board of Directors established an annual limit of $20 million of treasury stock purchases, exclusive of funds received through the dividend reinvestment and the ESPP. Stock purchases may be made in the open market or in private transactions at times, and in amounts that we deem appropriate. There is no guarantee as to the exact number of shares that we purchase, and we can terminate or limit the program at any time.

Dividends Declared - In 2019 and 2018, we declared and paid dividends of $2.00 per share ($0.50 per share quarterly) and $1.84 per share ($0.46 per share quarterly), respectively. In January 2020, we declared a dividend of $0.54 per share ($2.16 per share on an annualized basis) for shareholders of record on February 21, 2020, payable March 6, 2020.