Dividends

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Dividends

9. Dividends and Share Repurchase Program

Dividends

We have not paid cash dividends on our common stock and we do not anticipate paying cash dividends in the foreseeable future. In addition, our senior credit facility places limitations on our ability to pay cash dividends or make other distributions in respect of our common stock. Specifically, our amended and restated senior credit facility dated August 16, 2011 prohibits us from declaring, ordering, paying, or setting apart any sum for any dividends or other distributions on account of any shares of any class of stock, other than dividends payable solely in shares of stock to holders of such class of stock. Any future determination as to the payment of dividends will depend on our results of operations, financial condition, capital requirements and other factors deemed relevant by our Board of Directors, including the General Corporation Law of the State of Delaware, which provides that dividends are only payable out of surplus or current net profits.

Share Repurchase Program

In April, our Board of Directors authorized a new share repurchase program, authorizing us to repurchase up to $125.0 million of our common shares from time to time in open market purchases, pursuant to trading plans established in accordance

with SEC rules or through privately negotiated transactions. The extent and timing of our repurchases will depend upon market

conditions, our cash requirements to fund the long-term growth investments in our business and other corporate considerations.

The repurchases will be funded by existing cash balances and by our revolving credit facility. The share repurchase program

has no expiration date. The repurchase program may be suspended or discontinued at any time.