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Stockholders' Equity
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Stockholders' Equity

(6) Stockholders' Equity

The authorized capital stock of the Company 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, 2015 or 2016.

The Company paid dividends to its common stockholders of $23.8 million in 2014.  The Company made open market purchases of 200,000 shares of common stock with an aggregate cost of $8.1 million in 2014.  The Company did not purchase any shares of its common stock in 2015 or 2016.

In December 2016, holders of the Company's convertible notes converted $2.1 million in principal of the notes into 176,175 shares of the Company's common stock.  In 2017 through February 24, 2017, holders of the convertible notes converted an additional $9.2 million of principal amount of the notes into 767,353 shares of common stock.

In connection with the debt exchange completed on September 6, 2016, the Company issued warrants to acquire 1,917,342 shares of common stock for $0.01 per share.  As of December 31, 2016, warrants have been exercised for 1,255,462 shares of common stock, and 661,880 of the warrants remained outstanding.