Dividends Declared and Paid

3 Months Ended

Jun. 30, 2022

Dividends Declared and Paid

Common Stock

9. Dividends

On May 4, 2022, we announced that our board of directors (“Board of Directors”) declared a cash dividend of $2.50 per share of our common stock to all shareholders of record as of the close of business on May 16, 2022, totaling $100.3 million. We paid $99.7 million on June 2, 2022, with the remaining $0.6 million deferred until certain shares of restricted stock vest.

This was an irregular dividend. All declarations of dividends are subject to the determination and discretion of our Board of Directors based on its consideration of various factors, including our results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that our Board of Directors may deem relevant.

On June 15, 2022, we paid $0.2 million of dividends that were deferred until the vesting of certain restricted stock.