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SHAREHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY
We repurchase our common stock mainly through open market repurchase plans and, at times, through accelerated share repurchase ("ASR") programs. Information about shares repurchased and retired was as follows for the years ended December 31, 2021, 2020 and 2019:
Years Ended December 31,
202120202019
(in thousands, except per share amounts)
Number of shares repurchased and retired15,169 3,304 2,328 
Cost of shares repurchased, including commissions$2,513,629 $633,948 $324,583 
Average cost per share$165.72 $191.87 $139.42 

The share repurchase activity for the year ended December 31, 2021 included the repurchase of 2,491,161 shares at an average price of $200.71 per share under an ASR agreement we entered into on February 10, 2021 with a financial institution to repurchase an aggregate of $500 million of our common stock during the ASR program purchase period, which ended on March 31, 2021.

In connection with the completion of the Merger, our Articles of Incorporation were amended during the year ended December 31, 2019 to increase the number of authorized shares of Global Payments common stock from 200 million to 400 million.

As of December 31, 2021, the amount that may yet be purchased under our share repurchase program was $1,540.0 million. On January 27, 2022, our board of directors approved an increase to our existing share repurchase program authorization, which raised the total available authorization to $2.0 billion.

On January 27, 2022, our board of directors declared a cash dividend of $0.25 per share payable on March 25, 2022 to common shareholders of record on March 11, 2022.