Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Dividend Declaration. On July 14, 2015, we announced that our Board of Directors declared a cash dividend of $0.40 per common share or approximately $6.9 million (including dividend equivalents), which will be paid on or about August 14, 2015 to stockholders of record at the close of business on July 24, 2015.

Common Stock Issued Upon Exercises of Warrants. Beginning on July 1, 2015 and through July 21, 2015, 99,085 shares of our common stock were issued and 15,824 shares of our common stock were pending settlement in connection with exercises of the Warrants at an exercise price of $60.44. The Warrants were net share settled, meaning that we delivered to the Warrant holders a number of shares for each Warrant equal to the excess (if any) of the volume weighted average price of our common stock on each exercise date over the then effective strike price of the Warrants, divided by such volume-weighted average price of our common stock, with a cash payment in lieu of fractional shares. The shares of common stock issued upon exercise of the Warrants were issued in reliance on the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended, and no underwriters were used in connection with the Warrant exercises. For additional information related to the Warrants, see Note 3.

Anti-dilution Adjustments to Warrants. Effective July 22, 2015, the ex-dividend date for the quarter’s dividend payable August 14, 2015, the Warrants’ exercise price will be $60.32 per share.