Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity Note Disclosure

Note 9. Equity and Dividends

Additional Common Shares Authorized

At our annual meeting on May 6, 2020, our stockholders approved an amendment to the Articles of Incorporation to increase the number of authorized common shares from 60,000,000 to 100,000,000.

At-the-Market (ATM) Equity Program

In March 2020 the Company entered into a new ATM equity offering sales agreement pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $500,000,000 of the Company’s common shares through the ATM equity program. Upon entering into the new agreement, the Company terminated its previously existing ATM equity program, dated February 22, 2017. During the year ended December 31, 2020, we issued 535,990 common shares through the ATM program with an average price of $66.30, resulting in net proceeds of approximately $34,649,000. During the year ended December 31, 2019, 1,209,522 common shares were issued for $95,774,000 in net proceeds.

Dividends

The following table summarizes dividends declared by the Board of Directors during the years ended December 31, 2020 and 2019:

Year Ended December 31, 2020
Date of Declaration	Date of Record	Date Paid/Payable	Quarterly Dividend
February 19, 2020	March 30, 2020	May 8, 2020	$1.1025
June 15, 2020	June 30, 2020	August 7, 2020	$1.1025
September 14, 2020	September 30, 2020	November 6, 2020	$1.1025
December 15, 2020	December 31, 2020	January 29, 2021	$1.1025

Year Ended December 31, 2019
Date of Declaration	Date of Record	Date Paid/Payable	Quarterly Dividend
February 19, 2019	March 29, 2019	May 10, 2019	$1.05
May 7, 2019	June 28, 2019	August 9, 2019	$1.05
August 8, 2019	September 30, 2019	November 8, 2019	$1.05
November 7, 2019	December 31, 2019	January 31, 2020	$1.05