(11) Dividends

On January 24, 2013, the board of directors of the Company adopted a quarterly cash dividend policy. Dividends are subject to change at the discretion of the board of directors. The Company began paying regular quarterly dividends in the second quarter of 2013. Additionally, the Company declared and paid one special cash dividend during the year ended December 31, 2014 and two special cash dividends during the year ended December 31, 2013.

The following is a summary of the quarterly and special dividends paid to stockholders during the years ended December 31, 2014 and 2013:



	December 31, 2013		March 31, 2014		June 30, 2014		July 17, 2014		September 30, 2014		Total Dividends Paid in 2014
	(in millions, except per share data)
Dividend type	Quarterly		Quarterly		Quarterly		Special		Quarterly
Amount paid to IEP	$	53.4	$	53.4	$	53.4	$	142.4	$	53.4	$	356.0
Amounts paid to public stockholders	11.7		11.7		11.7		31.3		11.7		78.2
Total amount paid	$	65.1	$	65.1	$	65.1	$	173.7	$	65.1	$	434.2
Per common share	$	0.75	$	0.75	$	0.75	$	2.00	$	0.75	$	5.00
Shares outstanding	86.8		86.8		86.8		86.8		86.8



	February 19, 2013		March 31, 2013		June 10, 2013		June 30, 2013		September 30, 2013		Total Dividends Paid in 2013
	(in millions, except per share data)
Dividend type	Special		Quarterly		Special		Quarterly		Quarterly
Amount paid to IEP	$	391.6	$	53.4	$	462.8	$	53.4	$	53.4	$	1,014.6
Amounts paid to public stockholders	86.0		11.7		101.6		11.7		11.7		222.7
Total amount paid	$	477.6	$	65.1	$	564.4	$	65.1	$	65.1	$	1,237.3
Per common share	$	5.50	$	0.75	$	6.50	$	0.75	$	0.75	$	14.25
Shares outstanding	86.8		86.8		86.8		86.8		86.8