Equity Transactions

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Equity Transactions

Equity Transactions

On February 14, 2018, the Company declared a quarterly cash dividend of $0.45 per common share to be paid on May 15, 2018 to shareholders of record at the close of business on April 30, 2018. The Company also declared a quarterly cash dividend of $1.8125 per share on the Company's 7.25% mandatory convertible preferred stock ("MCPS") to be paid on May 1, 2018 to shareholders of record at the close of business on April 16, 2018.

As of March 31, 2018, there were 883,756 shares available to be repurchased from a total of 4,180,045 shares of Company common stock that had been approved by the Company's Board of Directors. The Company may repurchase shares of its common stock from time to time at its discretion through open market repurchases, privately negotiated transactions and/or other mechanisms, depending on price and prevailing market and business conditions. During the three months ended March 31, 2018, the Company repurchased no common shares.