Stockholders' Deficit

Dividends

During the nine months ended September 30, 2018, the Company paid dividends on common stock of $40.0 million, representing a cash dividend of $0.97 per share declared in the fourth quarter of 2017 and cash dividends of $0.63 per share declared in the first and second quarters of 2018. On August 2, 2018, the Company's Board of Directors declared a third quarter 2018 cash dividend of $0.63 per share of common stock. This dividend was paid on October 5, 2018 to the Company's stockholders of record at the close of business on September 20, 2018. The Company reported dividends payable of $11.4 million at September 30, 2018.

Stock Repurchase Program

In October 2015, the Company's Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $150 million of its common stock (the “2015 Repurchase Program”) on an opportunistic basis from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The 2015 Repurchase Program, as approved by the Board of Directors, does not require the repurchase of a specific number of shares and can be terminated at any time. A summary of shares repurchased under the 2015 Repurchase Program, during the three and nine months ended September 30, 2018 and cumulatively, is as follows:



2015 Repurchase Program	Shares	Cost of shares
		(In millions)
Repurchased during the three months ended September 30, 2018	107,814	$	7.9
Repurchased during the nine months ended September 30, 2018	383,615	$	27.9
Cumulative (life-of-program) repurchases as of September 30, 2018	1,384,272	$	110.8
Remaining dollar value of shares that may be repurchased	n/a	$	39.2

Treasury Stock

Repurchases of the Company's common stock are included in treasury stock at the cost of shares repurchased plus any transaction costs. Treasury stock may be re-issued when stock options are exercised, when restricted stock awards are granted and when restricted stock units settle in stock upon vesting. The cost of treasury stock re-issued is determined using the first-in, first-out (“FIFO”) method. During the nine months ended September 30, 2018, the Company re-issued 165,189 shares of treasury stock at a total FIFO cost of $6.4 million.