CAPITAL STOCK

12 Months Ended

Dec. 31, 2012

CAPITAL STOCK

(10) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares, which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2010:

	Year Ended December 31,
	2012		2011		2010
Beginning balance		161,131,547		159,909,052		158,118,937
Stock options/SARs exercised		926,425		862,774		991,988
Restricted stock grants		354,674		326,591		405,127
Restricted stock units vested		57,824		—		—
Issued for acreage purchases		—		—		380,229
Treasury shares		43,628		33,130		12,771
Ending balance		162,514,098		161,131,547		159,909,052

Common Stock Dividends

The Board of Directors declared quarterly dividends of $0.04 per common share for each of the four quarters of 2012, 2011 and 2010. The determination of the amount of future dividends, if any, to be declared and paid is at the sole discretion of the Board of Directors and will depend on our financial condition, earnings and cash flow from operations, level of capital expenditures, our future business prospects and other matters our Board of Directors deem relevant. Our bank credit facility and our senior subordinated notes allow for the payment of common dividends, with certain limitations. Dividends are limited to our legally available funds.