Equity Transactions

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Equity Transactions

Equity Transactions

On May 15, 2018, the Company declared a quarterly cash dividend of $0.45 per common share to be paid on August 15, 2018 to shareholders of record at the close of business on July 31, 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 August 1, 2018 to shareholders of record at the close of business on July 16, 2018.

As of June 30, 2018, there were 823,134 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 six months ended June 30, 2018, the Company repurchased 60,622 common shares at a weighted average price of $123.69 per share for a total cost, including fees and expenses, of $7.5 million.