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SHAREHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY

We make repurchases of our common stock mainly through the use of open market purchases. As of December 31, 2019, we were authorized to repurchase up to $473.4 million of our common stock. Information about shares repurchased and retired was as follows for the years ended December 31, 2019, 2018 and 2017:
 
Years Ended December 31,
 
2019
 
2018
 
2017
 
 
 
 
 
 
 
(in thousands, except per share amounts)
 
 
 
 
 
 
Number of shares repurchased and retired
2,328

 
1,927

 
376

Cost of shares repurchased, including commissions
$
324,583

 
$
212,196

 
$
34,811

Average cost per share
$
139.42

 
$
110.11

 
$
92.51



In connection with the completion of the Merger, our Articles of Incorporation were amended to increase the number of authorized shares of Global Payments common stock from 200 million to 400 million.

On February 5, 2019, the board of directors increased its authorization to repurchase shares of our common stock to $750 million, inclusive of prior share repurchase programs authorized by the board and repurchases made thereunder.

On February 19, 2020, the board of directors declared a cash dividend of $0.195 per share payable on March 27, 2020 to common shareholders of record on March 13, 2020.