Equity

3 Months Ended

Mar. 31, 2012

Equity [Abstract]

Equity

13. Equity

Special Dividend

On March 28, 2012, our Board of Directors declared a special dividend of $13.60 per share for an aggregate dividend of $418 million. The dividend was paid on April 20, 2012 to holders of record of Loral voting and non-voting common stock as of April 10, 2012.

Treasury Stock

In November 2011, our Board of Directors authorized the purchase of up to 800,000 shares of our voting common stock. These purchases may be made from time to time in the open market or private transactions, as conditions may warrant. Under the repurchase program, as of December 31, 2011, we had purchased 136,494 shares of our voting common stock at a total cost of $8.4 million (an average price of $61.54 per share), of which $0.5 million was settled in January 2012. No purchases were made in the period commencing January 1, 2012 and ending March 31, 2012. We intend to hold repurchased shares of our voting common stock in treasury. We account for the treasury shares using the cost method.