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Stockholders' Equity
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Dividends
The following table summarizes the Company’s fixed and variable dividends declared for the nine months ended September 30, 2023 and 2022, respectively.
Rate per Share
BaseVariableSpecialTotalTotal Dividends Declared
(In thousands)
Q3 2023$1.250 $0.110 $— $1.360 $58,374 
Q2 20231.250 1.970 — 3.220 137,507 
Q1 20231.250 3.550 — 4.800 204,884 
Total$3.750 $5.630 $— $9.380 $400,765 
Q3 2022$1.250 $— $— $1.250 $70,242 
Q2 20220.585 2.940 15.000 18.525 379,369 
Q1 20220.585 3.000 — 3.585 73,074 
Total $2.420 $5.940 $15.000 $23.360 $522,685 
Total dividends declared in the table above includes $1.4 million and $10.2 million associated with dividend equivalent rights on unvested equity-based compensation awards for the three and nine months ended September 30, 2023, respectively, and $18.4 million and $36.7 million for the three and nine months ended September 30, 2022, respectively.
On November 1, 2023, the Company declared a base-plus-variable cash dividend of $2.50 per share of common stock. The dividend will be payable on November 28, 2023 to shareholders of record as of November 14, 2023.
Share Repurchase Program
During the nine months ended September 30, 2023, the Company repurchased 1,023,320 shares of common stock at a weighted average price of $154.52 per common share for a total cost of $158.1 million, excluding accrued excise tax of $0.2 million. As of September 30, 2023, there was $114.8 million of capacity remaining under the Company’s $300.0 million program. In October 2023, the Board of Directors authorized a new share repurchase program of $750.0 million of the Company’s common stock, which replaces the existing $300.0 million program.
During the nine months ended September 30, 2022, the Company repurchased 1,174,756 shares of common stock at a weighted average price of $106.25 per common share for a total cost of $124.8 million.
Warrants
The following table summarizes the Company’s outstanding warrants as of September 30, 2023:
Warrants(1)
Exercise Price
Legacy Oasis606,069$75.57 
Legacy Whiting - Series A2,164,311$116.37 
Legacy Whiting - Series B1,392,503$133.70 
Total4,162,883
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(1)Represents the number of warrants in terms of shares of Chord common stock.
During the three and nine months ended September 30, 2023, there were 707,227 and 816,630 warrants exercised, respectively.