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Subsequent events
12 Months Ended
Dec. 31, 2014
Subsequent events  
Subsequent events

25.       Subsequent Events

 

On February 3, 2015, our Board of Directors authorized a stock repurchase program under which we may repurchase up to $750 million of our common stock during the two-year period from February 9, 2015 through February 8, 2017.       

 

On February 3, 2015, the Board of Directors authorized a $250 million repayment of our Term Loan. Accordingly, we made this repayment on February 11, 2015. Since this repayment was not a contractual requirement and was not approved by the Board of Directors until February 2015, we did not reflect the repayment as “Current portion of long-term debt” in our consolidated balance sheet as of December 31, 2014.

 

On February 3, 2015, our Board of Directors declared a cash dividend of $0.23 per common share payable on May 13, 2015 to shareholders of record at the close of business on March 30, 2015.