Equity

The Company is authorized to issue up to 206,000,000 shares of common stock of $0.01 par value. At December 31, 2017 and 2016, the Company had 72,393,933 and 72,635,032 shares outstanding, respectively. The Company is also authorized to issue 2,000,000 shares of $0.01 par value preferred stock. As of December 31, 2017, no shares of preferred stock have been issued.

Stock Repurchase

In 2017, 2016 and 2015, the Company repurchased a total of 0.5 million, 2.5 million and 3.0 million shares, respectively, at a cost of $7.7 million, $39.9 million and $54.9 million. The Company funded such repurchases with cash on hand and borrowings to the existing revolving credit facility. As of December 31, 2017, 2016 and 2015, the repurchased shares were permanently retired.

Dividends

Historically, the Company paid a regular quarterly dividend on the Company’s common stock, subject to the declaration thereof each quarter by the Company’s Board of Directors (the "Board"). On November 2, 2017, the Board voted to temporarily suspend the quarterly dividend on the Company's common stock due to the difficult operating environment in Puerto Rico. The Board anticipates reviewing the dividend policy as conditions stabilize in Puerto Rico. Future dividend declarations are subject to Board of Directors' approval and may be adjusted based on business needs or as market conditions change.

The Company’s dividend activity in 2017 and 2016 was as follows:



Declaration Date	Record Date	Payment Date	Dividend per share
February 17, 2016	February 29, 2016	March 17, 2016	0.10
May 11, 2016	May 23, 2016	June 10, 2016	0.10
July 28, 2016	August 9, 2016	September 2, 2016	0.10
October 27, 2016	November 14, 2016	December 2, 2016	0.10
February 17, 2017	March 1, 2017	March 20, 2017	0.10
April 27, 2017	May 8, 2017	June 9, 2017	0.10
July 25, 2017	August 7, 2017	September 8, 2017	0.10

Accumulated Other Comprehensive income

The following table provides a summary of the changes in the balances comprising accumulated other comprehensive loss for the years ended December 31, 2017 and 2016:



	Foreign Currency Translation Adjustments			Cash Flow Hedge			Total
Balance—December 31, 2015	$	(7,067	)	$	(515	)	$	(7,582	)
Other comprehensive loss before reclassifications	(3,360		)	(1,449		)	(4,809		)
Balance—December 31, 2016	(10,427		)	(1,964		)	(12,391		)
Other comprehensive (loss) income before reclassifications	(635		)	580			(55		)
Effective portion reclassified to Net Income	$	—		$	1,598		1,598
Balance—December 31, 2017	$	(11,062	)	$	214		$	(10,848	)