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Stockholders' Equity
3 Months Ended
Feb. 28, 2013
Equity [Abstract]  
Stockholders’ Equity
Stockholders’ Equity

A summary of changes in stockholders’ equity is presented below (in thousands):
 
 
Three Months Ended February 28, 2013
 
 
Common Stock
 
Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income
 
Grantor Stock Ownership Trust
 
Treasury Stock
 
Total Stockholders’ Equity
Balance at November 30, 2012
 
$
115,178

 
$
888,579

 
$
450,292

 
$
(27,958
)
 
$
(115,149
)
 
$
(934,136
)
 
$
376,806

Net loss
 

 

 
(12,458
)
 

 

 

 
(12,458
)
Dividends on common stock
 

 

 
(2,089
)
 

 

 

 
(2,089
)
Restricted stock amortization
 

 
620

 

 

 

 

 
620

Stock-based compensation
 

 
393

 

 

 

 

 
393

Issuance of common stock
 

 
(106,314
)
 

 

 

 
216,125

 
109,811

Grantor stock ownership trust
 

 
20

 

 

 
32

 

 
52

Balance at February 28, 2013
 
$
115,178

 
$
783,298

 
$
435,745

 
$
(27,958
)
 
$
(115,117
)
 
$
(718,011
)
 
$
473,135

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended February 29, 2012
 
 
Common Stock
 
Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income
 
Grantor Stock Ownership Trust
 
Treasury Stock
 
Total Stockholders’ Equity
Balance at November 30, 2011
 
$
115,171

 
$
884,190

 
$
519,844

 
$
(26,152
)
 
$
(118,059
)
 
$
(932,337
)
 
$
442,657

Net loss
 

 

 
(45,802
)
 

 

 

 
(45,802
)
Dividends on common stock
 

 

 
(4,818
)
 

 

 

 
(4,818
)
Restricted stock amortization
 

 
409

 

 

 

 

 
409

Stock-based compensation
 

 
1,247

 

 

 

 

 
1,247

Grantor stock ownership trust
 

 
(81
)
 

 

 
256

 

 
175

Balance at February 29, 2012
 
$
115,171

 
$
885,765

 
$
469,224

 
$
(26,152
)
 
$
(117,803
)
 
$
(932,337
)
 
$
393,868

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
On January 29, 2013, pursuant to the 2011 Shelf Registration, we issued 6,325,000 shares of our common stock, par value $1.00 per share, in an underwritten public offering at a price of $18.25 per share (the “Common Stock Offering”). We used 6,325,000 shares of treasury stock for the issuance and received net proceeds of $109.8 million, after underwriting discounts, commissions and transaction expenses.
In connection with the issuance of the $230 Million Convertible Senior Notes, which is discussed in Note 12. Mortgages and Notes Payable, we established a common stock reserve account with our transfer agent to reserve the maximum number of shares of our common stock potentially deliverable upon conversion to holders of the $230 Million Convertible Senior Notes based on the terms of the instruments governing these notes. The maximum number of shares would potentially be deliverable to holders only in certain limited circumstances as set forth in the instruments governing the $230 Million Convertible Notes. Accordingly, the common stock reserve account had a balance of 12,602,735 shares at February 28, 2013. 
As of February 28, 2013, we were authorized to repurchase 4,000,000 shares of our common stock under a board-approved share repurchase program. We did not repurchase any shares of our common stock under this program in the three months ended February 28, 2013. We have not repurchased shares pursuant to a common stock repurchase plan for the past several years and any resumption of such stock repurchases will be at the discretion of our board of directors.

During the three months ended February 28, 2013, our board of directors declared a cash dividend of $.0250 per share of common stock, which was paid on February 21, 2013 to stockholders of record on February 7, 2013. A cash dividend of $.0625 per share of common stock was declared and paid during the three months ended February 29, 2012.