EQUITY

Common Stock

Offerings of Common Stock - On August 18, 2015, the Company completed an underwritten public offering of 16.33 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds of $163.0 million from the offering, after giving effect to the issuance and sale of all 16.33 million shares of common stock (which included 2.13 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $10.50 per share.

On March 28, 2016, the Company completed an underwritten public offering of 9.78 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds of $105.8 million from the offering, after giving effect to the issuance and sale of all 9.78 million shares of common stock (which included 1.28 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $11.35 per share.

On November 18, 2016, the Company completed an underwritten public offering of 6.33 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds of $80.9 million from the offering, after giving effect to the issuance and sale of all 6.33 million shares of common stock (which included 0.83 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $13.35 per share.

At-The-Market Offering of Common Stock - During the second quarter of 2017, the Company entered into a new equity distribution agreement to issue and sell, from time to time, up to $300.0 million in aggregate offering price of its common stock through an “at-the-market” equity offering program (the “ATM Program”). At the time the ATM Program commenced in May 2017, the Company’s at-the-market equity offering program entered into during 2016 (the “Prior ATM Program”), which had been substantially depleted, was permanently discontinued. As of December 31, 2017, the Company had approximately $236.1 million available for future issuances under the ATM Program.

The following table summarizes the ATM Program and Prior ATM Program activity for 2017 (shares and dollars in thousands, except per share amounts):



	For the Three Months Ended
	March 31, 2017		June 30, 2017		September 30, 2017		December 31, 2017		Total
Number of shares	7,175		3,399		—		—		10,574
Average sales price per share	$	15.31	$	18.82	$	—	$	—	$	16.43
Gross proceeds	$	109,813	$	63,947	$	—	$	—	$	173,760

Dividends on Common Stock — During the first quarter of 2015, the board of directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on April 15, 2015 to common stockholders of record as of March 31, 2015. During the second quarter of 2015, the board of directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on July 15, 2015 to common stockholders of record as of June 30, 2015. During the third quarter of 2015, the board of directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on October 15, 2015 to common stockholders of record as of September 30, 2015. During the fourth quarter of 2015, the board of directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on January 15, 2016 to common stockholders of record as of December 31, 2015.

During the first quarter of 2016, the board of directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on April 15, 2016 to common stockholders of record as of March 31, 2016. During the second quarter of 2016, the board of directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on July 15, 2016 to common stockholders of record as of June 30, 2016. During the third quarter of 2016, the board of directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on October 14, 2016 to common stockholders of record as of September 30, 2016. During the fourth quarter of 2016, the board of directors declared a quarterly cash dividend of $0.17 per share of common stock, payable on January 13, 2017 to common stockholders of record as of December 31, 2016.

During the first quarter of 2017, the Company’s board of directors declared a quarterly cash dividend of $0.185 per share of common stock, payable on April 14, 2017 to common stockholders of record as of March 31, 2017. During the second quarter of 2017, the Company’s board of directors declared a quarterly cash dividend of $0.185 per share of common stock, payable on July 14, 2017 to common stockholders of record as of June 30, 2017. During the third quarter of 2017, the Company’s board of directors declared a quarterly cash dividend of $0.185 per share of common stock, payable on October 13, 2017 to common stockholders of record as of September 29, 2017. During the fourth quarter of 2017, the Company’s board of directors declared a quarterly cash dividend of $0.185 per share of common stock, payable on January 16, 2018 to common stockholders of record as of December 29, 2017.