12.

Cash Dividends

On February 24, 2017, the Company’s Board of Directors approved a cash dividend of $0.05 per share. The cash dividend was paid on March 31, 2017, to each stockholder of record on March 17, 2017. Cash dividends were $19 million and $173 million for the three months ended March 31, 2017 and 2016, respectively. The declaration and payment of future dividends is at the discretion of the Company’s Board of Directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements and other factors deemed relevant by the Company’s Board of Directors.