Shareholders' Equity

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Dividends – On February 16, 2015, our Board of Directors authorized an increase in the payment of quarterly dividends on our common stock from $0.16 per share to $0.18 per share payable beginning on April 10, 2015. On February 17, 2014, our Board of Directors authorized an increase in the payment of quarterly dividends on our common stock from $0.14 per share to $0.16 per share payable quarterly beginning on April 11, 2014. Generally, our dividend date-of-record is in the last month of the quarter, and the dividend is paid the following month. Any subsequent dividends will be reviewed by our Board of Directors and declared in its discretion dependent on its assessment of our financial situation and business outlook at the applicable time.

Share Repurchase Program – On November 13, 2014, our Board of Directors approved a $500.0 million share repurchase authorization, which included approximately $175 million of remaining capacity under the prior $750.0 million share repurchase authorization. Our share repurchase program does not have an expiration date, and we reserve the right to limit or terminate the repurchase program at anytime without notice.

We repurchased 1,072,421 shares of our outstanding common stock for $59.7 million, and 573,881 shares for $43.5 million, during the three months ended June 30, 2015 and 2014, respectively. We repurchased 2,454,446 shares of our outstanding common stock for $139.6 million, and 2,010,304 shares for $153.1 million, during the six months ended June 30, 2015 and 2014, respectively. As of June 30, 2015, we have $324.8 million of remaining capacity under our current share repurchase program.