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Equity
3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Equity

11. Equity

At-the-Market Continuous Equity Offering Program

On February 23, 2021, we entered into the ATM Agreement, pursuant to which we may offer and sell shares of our common stock from time to time for an aggregate offering price of up to $50.0 million. We intend to use the net proceeds of these offerings, after deducting sales agent fees and offering expenses, for general corporate purposes. Offerings of common stock pursuant to the ATM Agreement will terminate upon the earlier of (i) the sale of all shares of common stock subject to the ATM Agreement or (ii) the termination of the ATM Agreement by us or by each of the sales agents. Any sales agent may also terminate the ATM Agreement but only with respect to itself.

During the three months ended March 31, 2021, we sold 357,148 shares of common stock for net proceeds of $3.4 million pursuant to the ATM Agreement.

Cash Dividends

The following table summarizes our dividends declared and paid in each of the quarterly periods of 2021 and 2020:

    

Declared Dividends

    

Dividends Paid

    

per Common Share

    

(in thousands)

2021

 

  

 

  

Q1

$

0.145

$

22,155

2020

 

  

 

  

Q4

$

0.145

$

22,177

Q3

 

0.145

 

22,308

Q2

 

0.145

 

22,176

Q1

 

0.145

 

22,171

On April 28, 2021, our Board of Directors declared a quarterly dividend of $0.145 per share of common stock to be paid on May 17, 2021 to stockholders of record at the close of business on May 10, 2021.