Stockholders Equity

3 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 3. Stockholders' Equity

Dividends

During January of both 2015 and 2014, the Company's Board of Directors declared quarterly cash dividends of $0.0625 per common share. Dividends totaling $22.1 million and $21.7 million were paid to stockholders during the three months ended March 31, 2015 and 2014, respectively. See Note 8, Subsequent Event, for details regarding the dividend declared and to be paid in the second quarter of 2015.

Stock Repurchase Program

Under our board-authorized share repurchase program, we repurchased 12.4 million shares of Denbury common stock for $200.4 million during the first quarter of 2014. In November 2014, the Company's Board of Directors suspended the common share repurchase program in light of commodity price uncertainty and to protect our financial position.

Employee Stock Purchase Program

We previously provided for an Employee Stock Purchase Plan (the "Plan") in which funds from eligible employees, together with Company contributions, were used to purchase previously unissued Denbury common stock or treasury stock that we purchased in the open market for that purpose, in either case, based on the market value of our common stock at the end of each quarter. The Plan was terminated, effective at the end of the offering period ending on March 31, 2015, as all of the previously authorized shares reserved for issuance under the Plan had been issued.