XML 61 R18.htm IDEA: XBRL DOCUMENT v3.3.0.814
Stockholders' Equity
9 Months Ended
Sep. 30, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Common Stock Repurchase Program

In February 2012, the Company’s Board of Directors approved a program authorizing the repurchase of up to five million shares of our common stock through February 20, 2013 (the "2012 Program") which was subsequently extended through February 19, 2016. During the nine month period ended September 30, 2015, no shares were repurchased under this program. Cumulatively at September 30, 2015, 2.1 million shares were repurchased at an aggregate cost of $58.6 million (including an immaterial amount of commission fees).

Periodically, participants in j2 Global’s stock plans surrender to the Company shares of j2 Global stock to pay the exercise price or to satisfy tax withholding obligations arising upon the exercise of stock options or the vesting of restricted stock. During the three month period ended September 30, 2015, the Company purchased 11,730 shares from plan participants for this purpose.

Dividends
 
The following is a summary of each dividend declared during fiscal year 2015:
Declaration Date
 
Dividend per Common Share
 
Record Date
 
Payment Date
February 10, 2015
 
$
0.2925

 
February 23, 2015
 
March 9, 2015
May 6, 2015
 
$
0.3000

 
May 19, 2015
 
June 3, 2015
August 3, 2015
 
$
0.3075

 
August 17, 2015
 
September 1, 2015


Future dividends are subject to Board approval.