Stockholders' Equity Matters

6 Months Ended

Jun. 30, 2013

Stockholders' Equity Matters

Stockholders' Equity Matters

(9) Stockholders' Equity Matters

        Our board of directors has authorized up to $1,200,000 in repurchases of our common stock. All repurchases are subject to stock price, market conditions, corporate and legal requirements and other factors. As of June 30, 2013, we had a remaining amount available for repurchase under our share repurchase program of $66,035, which represents approximately 1% in the aggregate of our outstanding common stock based on the closing stock price on such date.

        In February 2010, our board of directors adopted a dividend policy under which we have paid, and in the future 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 2012 and in the first six months of 2013, our board of directors declared the following dividends:

Declaration Date	Dividend Per Share		Record Date		Total Amount		Payment Date
March 8, 2012	$	0.2500		March 23, 2012	$	42,791		April 13, 2012
June 5, 2012		0.2700		June 22, 2012		46,336		July 13, 2012
September 6, 2012		0.2700		September 25, 2012		46,473		October 15, 2012
October 11, 2012		4.0600		October 22, 2012		700,000		November 21, 2012
December 14, 2012		0.2700		December 26, 2012		51,296		January 17, 2013
March 14, 2013		0.2700		March 25, 2013		51,460		April 15, 2013
June 6, 2013		0.2700		June 25, 2013		51,597		July 15, 2013

        On October 11, 2012, we announced the declaration by our board of directors of a special dividend of $700,000 (the "Special Dividend"), payable, at the election of the stockholders, in either common stock or cash to stockholders of record as of October 22, 2012 (the "Record Date"). The Special Dividend, which is a distribution to stockholders of a portion of our accumulated earnings and profits, was paid in a combination of common stock and cash. The Special Dividend was paid on November 21, 2012 (the "Distribution Date") to stockholders as of the Record Date. Stockholders elected to be paid their pro rata portion of the Special Dividend in all common stock or cash. The total amount of cash paid to all stockholders associated with the Special Dividend was approximately $140,000 (including cash paid in lieu of fractional shares). Our shares of common stock were valued for purposes of the Special Dividend based upon the average closing price on the three trading days following November 14, 2012, or $32.87 per share, and as such, the number of shares of common stock we issued in the Special Dividend was approximately 17,000,000 and the total amount of common stock paid to all stockholders associated with the Special Dividend was approximately $560,000. These shares impact weighted average shares outstanding from the date of issuance, thus impacting our earnings per share data prospectively from the Distribution Date.