Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

On February 8, 2017, the Company's Board of Directors authorized the repurchase of up to 15.0 million shares of common stock in the open market or through privately negotiated transactions. This authorization expired on February 8, 2019. On February 7, 2019, the Company’s Board of Directors authorized the repurchase of up to 15.0 million shares of common stock in the open market or through privately negotiated transactions. This authorization will expire on February 7, 2021. During the year ended December 31, 2019, the Company repurchased approximately 2.5 million shares of the Company's common stock through open market transactions under the 2019 authorization. The total cash payments for the repurchase of the Company's common stock during the year ended December 31, 2019 were approximately $125.0 million.

During the year ended December 31, 2019, the Company paid dividends quarterly at the rate of $0.17 per share for a total of $91.7 million. During the year ended December 31, 2018, the Company paid dividends quarterly at the rate of $0.16 per share for a total of $88.1 million.