XML 36 R24.htm IDEA: XBRL DOCUMENT v3.19.2
Stockholders' Equity
6 Months Ended
Jun. 30, 2019
Federal Home Loan Banks [Abstract]  
Stockholders' Equity
16)
Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
 
Share 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 will depend 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. The Company has repurchased approximately
2,588,000
shares of common stock for approximately $
127,000
pursuant to the program since its adoption. During the three and six months ended June 30, 2019 and 2018, there were no repurchases of common stock.
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. In addition, the Company accrues dividend equivalents on the RSUs the Company assumed in the ESI Merger described in Note 15 above when dividends are declared by the Company’s Board of Directors. The Company’s Board of Directors declared a cash dividend of $
0.20
 
per share during each of the first and second quarters of 2019, which totaled 
$
21,723
or $
0.40
per share. The Company’s Board of Directors declared a cash dividend of 
$
0.18
per share during the first quarter of 2018 and
$
0.20
per share during the second quarter of 2018, which totaled
$
20,750
or $
0.38
per share.
On
July 29, 2019
, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 per share to be paid on
September 6, 2019
to shareholders of record as of
August 26, 2019
. 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. In addition, under the terms of the Term Loan Facility and its ABL Facility, the Company may be restricted from paying dividends under certain circumstances.