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Shareholders' Equity
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY
The following table provides a summary of dividends declared and paid per share:

 
Six Months Ended June 30,
 
2019
 
2018
 
Declared
 
Paid
 
Declared
 
Paid
Common shares
$
2.040

 
$
2.040

 
$
2.000

 
$
2.000

5.417% Series 1 Cumulative Convertible Preferred shares
$
0.677

 
$
0.677

 
$
0.677

 
$
0.677

5.0% Series C Cumulative Redeemable Preferred shares (1)
$
0.625

 
$
0.625

 
$
0.625

 
$
0.681


(1)
Amount represents dividends per depository share, each representing 1/1000th of a share.

We have an at-the-market (“ATM”) equity program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $400.0 million. We intend to use the net proceeds to fund potential acquisition opportunities, fund our development and redevelopment pipeline, repay amounts outstanding under our revolving credit facility and/or for general corporate purposes. For the six months ended June 30, 2019, we sold 511,938 common shares at a weighted average price per share of $134.96 for net cash proceeds of $68.3 million and paid $0.7 million in commissions and $0.1 million in additional offering expenses related to the sales of these common shares. As of June 30, 2019, we had the capacity to issue up to $203.4 million in common shares under our ATM equity program.