XML 82 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stockholders' Equity
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Stockholders' Equity

(6) Stockholders' Equity

The authorized capital stock of Comstock consists of 75 million shares of common stock, $0.50 par value per share, and 5 million shares of preferred stock, $10.00 par value per share. The preferred stock may be issued in one or more series, and the terms and rights of such stock will be determined by the Board of Directors. There were no shares of preferred stock outstanding at December 31, 2013 or 2014.

The Company has declared and paid quarterly dividends beginning in May, 2013 through December, 2014.  Dividends in the aggregate amount of $23.8 million and $18.0 million were paid during 2014 and 2013, respectively. In February, 2015 the Company announced that it has temporarily suspended the quarterly dividend.  During 2013, the Board of Directors also approved an open market share repurchase plan which permits the Company to repurchase up to $100.0 million of its common stock on the open market.  The Company made various open market purchases of 1,000,000 shares and 631,096 shares with an aggregate cost of $8.1 million and $9.2 million in 2014 and 2013, respectively.  As of December 31, 2014, $82.7 million remains available for future purchases.