Stockholders' Equity (Notes)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]


6.			Stockholders' Equity

During the first nine months of 2020, we repurchased or withheld an aggregate of 1,336,884 shares of our common stock, as described below.

Repurchase Program

Our Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases are to be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During the nine months ended September 30, 2020, 1,186,000 shares were repurchased under the Repurchase Program. As of September 30, 2020, we were authorized to repurchase an additional 227,833 shares under the Repurchase Program.

Withheld Shares

During the nine months ended September 30, 2020, we withheld 150,884 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock awards.

Dividends

The Board declared quarterly dividends as follows:


(amounts per share)	2020		2019

First quarter	$	0.40	$	0.30
Second quarter	0.40		0.30
Third quarter	0.40		0.30

During the nine months ended September 30, 2020 and 2019, we paid dividends totaling $46.5 million and $36.8 million, respectively.

Rights Plan

On May 21, 2020, the Board declared a dividend of one right (“Right”) for each outstanding share of common stock to common stockholders of record at the close of business on June 1, 2020 (the “Rights Plan”). Each Right, if and when it becomes exercisable, entitles the registered holder to purchase from us one unit consisting of one one-hundredth of a share of Series A Junior Participating Preferred Stock, par value $0.01 per share. Initially, the Rights are attached to all outstanding shares of our common stock. The Rights are not currently exercisable and the Rights Plan will expire at the close of business on May 20, 2021, unless the Rights are earlier redeemed or exchanged by us.