STOCKHOLDERS’ EQUITY

The following table summarizes information about shares of the Company’s common stock at:



	June 30,		December 31,
(In thousands)	2018	2017	2017
Common stock authorized	75,000	75,000	75,000
Common stock issued	27,900	27,610	27,674
Treasury stock	2,684	2,684	2,684

The following reconciliation details the denominator used in the computation of basic and diluted earnings per share:



	Six Months Ended June 30,		Three Months Ended June 30,
(In thousands)	2018	2017	2018	2017
Weighted average shares outstanding for basic earnings per share	25,195	24,959	25,233	24,992
Common stock equivalents pertaining to stock-based awards	332	337	221	313
Weighted average shares outstanding for diluted earnings per share	25,527	25,296	25,454	25,305

The weighted average diluted shares outstanding for the six months ended June 30, 2018 and 2017, exclude the effect of 463,479 and 143,658 shares of common stock, respectively, subject to stock-based awards. The weighted average diluted shares outstanding for the three months ended June 30, 2018 and 2017, exclude the effect of 463,711 and 144,046 shares of common stock, respectively, subject to stock-based awards. Such shares were excluded from total diluted shares because they were anti-dilutive or the specified performance conditions those shares were subject to were not yet achieved.

The table below summarizes the regular quarterly dividends declared and paid during the periods ended June 30, 2018 and December 31, 2017:



(In thousands, except per share data)	Per Share		Record Date	Payment Date	Total Paid
First Quarter 2017	$	0.50	03/06/17	03/17/17	$	12,442
Second Quarter 2017	0.50		05/19/17	06/02/17	12,445
Third Quarter 2017	0.50		08/18/17	09/01/17	12,459
Fourth Quarter 2017	0.55		11/17/17	12/01/17	13,711
Total 2017	$	2.05			$	51,057

First Quarter 2018	$	0.55	03/16/18	03/29/18	$	13,858
Second Quarter 2018	0.60		06/04/18	06/15/18	15,127
Total 2018	$	1.15			$	28,985

In February 2017, the Company issued 63,677 deferred stock units at the average price of $108.47, or $6.9 million, to executive officers in lieu of cash for a portion of their 2016 incentive compensation.