Stockholders' Equity

12 Months Ended

Dec. 31, 2020

STOCKHOLDERS' EQUITY

During 2020, the Company repurchased a total of 1,427,000 shares of common stock at an aggregate cost of $107.0 million and an average cost per share of $74.96, and during 2019, repurchased 1,305,000 shares of common stock at an aggregate cost of $114.0 million and an average cost per share of $87.37. The Company intends to continue repurchases under its active share repurchase program through open market transactions under trading plans in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act of 1934, as amended, subject to a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, regulatory requirements, the market price of the Company’s stock, dividend policy, the availability of alternative investment opportunities, including acquisitions, and the impact of COVID-19.

The following table provides purchases made by the Company of shares of its common stock under each share repurchase program in effect during 2020 (dollars in thousands):


Plan Authorization Date	Plan Completion Date	Dollar Amount Authorized		Shares Purchased in 2020	Dollar Amount Purchased in 2020		Remaining Dollar Amount Authorized For Future Purchases
October 24, 2018	January 30, 2020	$	100,000	344,000	$	28,797	$	—
January 28, 2020	Currently active	100,000		1,083,000	78,173		21,827
Total				1,427,000	$	106,970	$	21,827

Total cash dividends paid in 2020 and 2019 were $44.8 million and $44.0 million, respectively. The declaration and payment of cash dividends in the future (quarterly or otherwise) will be made by the Board of Directors, from time to time, subject to the Company’s financial condition, results of operations, business requirements, compliance with legal requirements and debt covenant restrictions.