Capital Markets Issuance of Shares (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Common And Preferred Shares Disclosure [Text Block]

During the three months ended March 31, 2020, the Company's Board approved a share repurchase program pursuant to which the Company may repurchase up to $150.0 million of the Company's common shares. The share repurchase program is scheduled to expire on December 31, 2020; however, the Company will suspend the program upon the effective date of the covenant modification agreements, as discussed in Note 2. Subsequent to March 31, 2020, the Company repurchased 1,116,643 common shares under the share repurchase program for approximately $22.9 million. The repurchases were made under a Rule 10b5-1 trading plan.

The Board declared regular monthly cash dividends on its common shares during the three months ended March 31, 2020 totaling $1.1325 per common share. Subsequent to March 31, 2020, the Board declared its monthly cash dividend to common shareholders of $0.3825 per share payable May 15, 2020 to shareholders of record as of April 30, 2020.

During the three months ended March 31, 2020, the Board also declared cash dividends of $0.359375 per share on its 5.75% Series C cumulative convertible preferred shares, $0.5625 per share on its 9.00% Series E cumulative convertible preferred shares and $0.359375 per share on its 5.75% Series G cumulative redeemable preferred shares.