Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Statement of Stockholders' Equity [Abstract]

Stockholders' Equity

EquityWe have a stock repurchase program with 6.6 million shares remaining authorized for repurchase as of December 31, 2021, following the additional authorization of 3.0 million shares by our Board of Directors on August 20, 2021. There were 1.8 million shares repurchased in the open market during the year ended December 31, 2021, 1.5 million in 2020, and none in 2019. Repurchases are expected to continue from time to time, as determined by market conditions, cash flow requirements, securities

law limitations, and other factors, until the number of shares authorized have been repurchased, or until the authorization is terminated. The share repurchase authorization is discretionary and has no expiration date.

During the years ended December 31, 2021, 2020 and 2019 our Board of Directors declared dividends totaling $45.9 million, $6.5 million, and $6.6 million for each year, respectively. The 2021 dividends included a $0.50 per share special dividend totaling $39.5 million and regular quarterly dividends totaling $6.4 million, while the 2020 and 2019 dividends were regular quarterly dividends. Future payment of cash dividends and the amount of such dividends will depend upon our financial conditions, our results of operations, our cash requirements, our tax treatment, and certain corporate law requirements, as well as factors deemed relevant by our Board of Directors.