Equity Transactions

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Equity Transactions

Equity Transactions

Dividends Declared

On May 18, 2022, the Company declared a quarterly cash dividend of $1.50 per common share to be paid on August 15, 2022 to stockholders of record at the close of business on July 29, 2022.

Common Stock Repurchases

During the three and six months ended June 30, 2022, the Company repurchased 221,903 and 347,355 common shares, respectively, at a weighted average price of $180.23 and $201.49 per share, respectively, for a total cost, including fees and expenses, of $40.0 million and $70.0 million, respectively, under its share repurchase program. In May 2022, the Company's Board of Directors authorized an additional 750,000 shares to be repurchased under the share repurchase program. As of June 30, 2022, 932,094 shares remained available for repurchase. Under the terms of the program, 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. The program, which has no specified term, may be suspended or terminated at any time.