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Stockholder's Equity
 9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Stockholder's Equity
15) Stockholder’s Equity

Stock Repurchase Program

On July 25, 2011, the Company’s Board of Directors approved a share repurchase program for the repurchase of up to an aggregate of $200,000 of its outstanding common stock from time to time in open market purchases, privately negotiated transactions or through other appropriate means. The timing and quantity of any shares repurchased depends upon a variety of factors, including business conditions, stock market conditions and business development activities, including, but not limited to, merger and acquisition opportunities. These repurchases may be commenced, suspended or discontinued at any time without prior notice.

During the nine months ended September 30, 2013, the Company repurchased 107,000 shares of its common stock for $2,875, or an average price of $26.87 per share. No repurchases occurred during the three months ended September 30, 2013.

Cash Dividends

Holders of the Company’s common stock are entitled to receive dividends when they are declared by the Company’s Board of Directors. During the nine months ended September 30, 2013, the Board of Directors authorized three quarterly dividends of $0.16 per share, which totaled $25,458 or $0.48 per share. During the nine months ended September 30, 2012, the Board of Directors declared two quarterly dividends of $0.15 per share and one quarterly dividend of $0.16 per share that totaled $24,261 or $0.46 per share.

 

On October 28, 2013, our Board of Directors declared a quarterly cash dividend of $0.16 per share to be paid on December 13, 2013 to shareholders of record as of December 2, 2013. Future dividend declarations, if any, as well as the record and payment dates for such dividends, are subject to the final determination of the Company’s Board of Directors.