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Common Stock
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Common Stock Common Stock
Dividends
The Company declared dividends per common share, including DERs (Note 10), during the periods presented as follows:
Dividends per Common Share
Amount
(in thousands)
2020:
Second Quarter$0.155  $11,761  
First Quarter0.155  11,735  
Total dividends declared in 2020$0.31  $23,496  
2019:
Fourth Quarter$0.14  $10,718  
Third Quarter0.14  10,726  
Second Quarter0.14  10,751  
First Quarter0.14  10,782  
Total dividends declared in 2019$0.56  $42,977  
During the third quarter of 2020, the Company's Board of Directors declared a dividend of $0.155 per share of common stock to shareholders of record as of September 4, 2020 and payable on September 18, 2020.
Share Repurchase Program
As of June 30, 2020, the Board of Directors had authorized the Company to repurchase up to an aggregate of $100.0 million of its issued and outstanding common stock.
Share repurchases may be effected from time to time in open market or privately negotiated transactions, including transactions with affiliates, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company consistent with the Company's general working capital needs and within the constraints of the Company’s credit agreement. As previously disclosed, in connection with this share repurchase program, the Company entered into an agreement with Magnus Holdings Co., Ltd. (“Magnus”), a wholly owned subsidiary of Fila Holdings Co., to purchase from Magnus an equal amount of its common stock as it purchases on the open market, up to an aggregate of $24.9 million, at the same weighted average per share price.
In April 2020, the Company temporarily suspended stock repurchases under its share repurchase program in light of the COVID-19 pandemic. The Company has the ability to resume repurchases in its discretion. See Note 1 for further discussion on the Company's evaluation and response to the COVID-19 pandemic.
The Company's share repurchase activity was as follows:
Three months ended June 30,Six months ended June 30,
(in thousands, except share and per share amounts)2020201920202019
Shares repurchased (1)
—  253,385  243,894  253,385  
Average price$—  $24.38  $28.60  $24.38  
Aggregate value $—  $6,178  $6,976  $6,178  
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(1) There were no shares repurchased from Magnus during the three and six months ended June 30, 2020 related to the Magnus share repurchase agreement.
In relation to the Magnus share repurchase agreement, the Company has recorded a liability to repurchase additional shares of common stock from Magnus of $8.8 million (299,894 shares) and $1.8 million (56,000 shares), which was included in accrued expenses and other liabilities and treasury stock on the unaudited condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively. Excluding the impact of the share repurchase liability, as of June 30, 2020 the Company had $63.7 million remaining under the current share repurchase authorization, including $11.1 million related to the Magnus share repurchase agreement.