Stockholders' Equity Matters

6 Months Ended

Jun. 30, 2011

Stockholders' Equity Matters

Stockholders' Equity Matters

(9) Stockholders' Equity Matters

        In February 2010, our board of directors approved a share repurchase program authorizing up to $150,000 in repurchases of our common stock, and in October 2010 our board of directors authorized up to an additional $200,000 of such purchases. In May 2011, our board of directors authorized up to an additional $850,000 of such purchases, for a total authorization of $1,200,000. All purchases are subject to stock price, market conditions, corporate and legal requirements and other factors. Additionally, in May 2011, we entered into two prepaid variable share repurchase agreements to repurchase an aggregate of $250,000 of our common stock. The price of the shares repurchased may be different under each such repurchase agreement and in each case will be determined based on a discount to certain volume weighted average trading prices of our common stock over a period of up to three months. As of June 30 2011, we had a remaining amount available for repurchase under our share repurchase program of $1,077,569, which includes the two prepaid variable share repurchase agreements, and represents approximately 16% in the aggregate of our outstanding common stock based on the closing stock price on such date. In the third quarter of 2011, both of the prepaid variable share repurchase agreements were settled and 7,539,595 shares were delivered to us and retired.

        In February 2010, our board of directors adopted a dividend policy under which we intend to pay quarterly cash dividends on our common stock. Declaration and payment of future quarterly dividends is at the discretion of our board of directors. In the first six months of 2011, our board of directors declared the following dividends:

Declaration Date	Dividend Per Share		Record Date	Total Amount		Payment Date
March 11, 2011	$	0.1875	March 25, 2011	$	37,601	April 15, 2011
June 10, 2011	$	0.2500	June 24, 2011	$	50,694	July 15, 2011

        On March 23, 2011, our board of directors declared a dividend of one preferred stock purchase right ("Right") for each outstanding share of our common stock held by stockholders of record at the close of business on April 1, 2011. Each Right, once exercisable, entitles the registered holder to purchase one one-thousandth of a share of our preferred stock, designated as Series A Junior Participating Preferred Stock, par value $0.01 per share, at a price of $120.00 per one one-thousandth of a share, subject to certain adjustments. No shares of Series A Junior Participating Preferred Stock are outstanding as of June 30, 2011. The Rights will expire upon the close of business on the earliest to occur of: (i) March 22, 2013, (ii) the date on which the Rights are redeemed or exchanged by us in accordance with the rights agreement governing the Rights and (iii) the date of our 2012 annual meeting of stockholders if requisite stockholder approval of the rights agreement is not obtained at such meeting.