Shareholders' Equity

9 Months Ended

Sep. 30, 2019

Shareholders’ Equity

Dividends – 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.

Dividends declared per share were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Dividends declared per share	$	0.19	$	0.19	$	0.57	$	0.57

Share Repurchase Program – In 2014, our Board of Directors approved a $500.0 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 any time without notice.

We repurchased 113,656 shares of our outstanding common stock for $5.4 million during the three months ended September 30, 2019, compared to no repurchases of shares for the same period in 2018. During the nine months ended September 30, 2019 ,we repurchased 113,656 shares of our outstanding common stock for $5.4 million, compared to no repurchases of shares during the same period in 2018. The primary purpose for the repurchased shares in 2019 was to offset the dilution of outstanding common stock as a result of the vesting of Restricted Shares during the year related to stock-based compensation. As of September 30, 2019, we had $155.3 million of remaining capacity under our current share repurchase program.