Capital Stock

9 Months Ended

Sep. 30, 2019

6.	Capital Stock

Net income per share

Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended September 30, 2019 and 2018, stock options of 1.3 million and 0.5 million, respectively, and for the nine-month periods ended September 30, 2019 and 2018, stock options of 1.2 million and 0.9 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February, April and August 2019, the Company’s board of directors declared quarterly cash dividends of $0.37 per share. These quarterly cash dividends of $20.5 million, $20.6 million and $20.6 million were paid on March 13, 2019, June 12, 2019 and September 11, 2019 to stockholders of record on February 25, 2019, May 31, 2019 and August 30, 2019. In November 2019, the Company’s board of directors declared a quarterly cash dividend of $0.37 per share to be paid on December 11, 2019 to stockholders of record on November 29, 2019.

Repurchase of common stock

During the three-month periods ended September 30, 2019 and 2018, the Company repurchased zero and 0.2 million shares of its Class A common stock under its stock repurchase plans for zero and $12.4 million, respectively. During the nine-month periods ended September 30, 2019 and 2018, the Company repurchased 14,000 shares and 0.6 million shares of its Class A common stock under its stock repurchase plans for $0.8 million and $48.2 million, respectively. As of September 30, 2019, $470.2 million was available for repurchases under the Company’s stock repurchase plan.