EQUITY

Common Stock

Offerings of Common Stock - 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 an 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”). The following table summarizes the quarterly ATM Program activity for 2018 (in thousands, except per share amounts):



	For the Three Months Ended
	March 31, 2018		June 30, 2018		September 30, 2018		December 31, 2018		Total
Number of shares	—		2,989		4,772		2,504		10,265
Average sales price per share	$	—	$	16.13	$	17.62	$	19.98	$	17.76
Gross proceeds*	$	—	$	48,198	$	84,077	$	50,046	$	182,321

*Total gross proceeds is before $0.6 million, $1.1 million and $0.6 million of commissions paid to the sales agents during the three months ended June 30, 2018, September 30, 2018 and December 31, 2018, respectively.

As of December 31, 2018, the Company had approximately $53.7 million available for future issuances under the ATM Program.

Dividends on Common Stock — The following table summarizes the cash dividends per share of common stock declared by the Company’s Board of Directors for 2018, 2017 and 2016:



	For the Three Months Ended
2018	March 31		June 30		September 30		December 31
Dividends declared	$	0.205	$	0.205	$	0.205	$	0.205
Dividends payment date	April 13, 2018		July 13, 2018		October 15, 2018		January 15, 2019

2017
Dividends declared	$	0.185	$	0.185	$	0.185	$	0.185
Dividends payment date	April 14, 2017		July 14, 2017		October 13, 2017		January 16, 2018

2016
Dividends declared	$	0.17	$	0.17	$	0.17	$	0.17
Dividends payment date	April 15, 2016		July 15, 2016		October 14, 2016		January 13, 2017