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STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

NOTE 16. STOCKHOLDERS’ EQUITY

At–the–Market Continuous Equity Offering Program

In February 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 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 years ended December 31, 2022 and 2021, we sold 447,020 and 357,148 shares of common stock, respectively, for net proceeds of $4.2 million and $3.4 million, respectively, pursuant to the ATM Agreement.

Cash Dividends

The following table summarizes our dividends declared and paid in each of the quarterly periods of 2022, 2021 and 2020:

​

​	​	​	​	​	​	​
​		Dividends per			​
​		Common Share			Dividends Paid
2022	​			​
Q4	​	$	0.145	​	$	22,589
Q3	​	​	0.145	​	​	22,559
Q2	​	​	0.145	​	​	22,494
Q1	​	​	0.145	​	​	22,673
​	​	​	​	​	​	​
2021		​			​
Q4	​	$	0.145	​	$	22,351
Q3	​		0.145	​		22,506
Q2	​		0.145	​		22,331
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 January 26, 2023, our Board of Directors declared a quarterly dividend of $0.15 per share of common stock, or approximately $23.6 million, which was paid on February 14, 2023 to stockholders of record at the close of business on February 7, 2023.

Accumulated Other Comprehensive Loss

Components of comprehensive income (loss) are net income (loss) and all changes in equity during a period except those resulting from transactions with owners. Our accumulated other comprehensive loss consists of changes in the fair value of our interest rate swap derivative instruments, net of tax. See Note 24 for further details on our interest rate swap derivative instruments.

The following table presents the changes in accumulated other comprehensive loss, net of tax:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2022			2021			2020
Beginning accumulated other comprehensive loss	​	$	(984)	​	$	(5,006)	​	$	(1,387)
Other comprehensive income (loss), net of tax:	​	​	​	​	​	​	​	​	​
Loss recognized in other comprehensive income	​		(405)	​		(962)	​		(6,683)
Loss reclassified from accumulated other comprehensive loss to interest expense	​		1,389	​		4,984	​		3,064
Total other comprehensive income (loss)	​		984	​		4,022	​		(3,619)
Ending accumulated other comprehensive loss	​	$	—	​	$	(984)	​	$	(5,006)

​

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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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