Preferred Shares
|
12 Months Ended |
---|---|
Dec. 31, 2013
|
|
Preferred Shares [Abstract] | |
Preferred Stock [Text Block] | Preferred Shares The Company’s Articles of Incorporation authorize the issuance of up to 2,000,000 preferred shares, par value $.01 per share. On March 15, 2007, the Company issued 4,000,000 depositary shares, each representing 1/1000th of a Series A Preferred Share, or 4,000 Series A Preferred Shares in the aggregate. On April 10, 2013, the Company redeemed 2,000 of its Series A Preferred Shares for $50.4 million in cash. The aggregate liquidation value of the remaining 2,000 Preferred Shares is $50 million. The Company paid $3.7 million of dividends in 2013 on the Series A Preferred Shares. No dividends were paid in 2012 on the Series A Preferred Shares. Please see Note 13 for additional information related to the restrictions on our ability to pay dividends on and repurchase our Series A Preferred Shares. |