(12) 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.

The following is a summary of the quarterly and special dividends paid to stockholders during the years ended December 31, 2017 and 2016:



	December 31, 2016		March 31, 2017		June 30, 2017		September 30, 2017		Total Dividends Paid in 2017
	(in millions, except per share data)
Dividend type	Quarterly		Quarterly		Quarterly		Quarterly
Amount paid to IEP	$	35.6	$	35.6	$	35.6	$	35.6	$	142.4
Amounts paid to public stockholders	7.8		7.8		7.8		7.8		31.3
Total amount paid	$	43.4	$	43.4	$	43.4	$	43.4	$	173.7
Per common share	$	0.50	$	0.50	$	0.50	$	0.50	$	2.00
Shares outstanding	86.8		86.8		86.8		86.8



	December 31, 2015		March 31, 2016		June 30, 2016		September 30, 2016		Total Dividends Paid in 2016
	(in millions, except per share data)
Dividend type	Quarterly		Quarterly		Quarterly		Quarterly
Amount paid to IEP	$	35.6	$	35.6	$	35.6	$	35.6	$	142.4
Amounts paid to public stockholders	7.8		7.8		7.8		7.8		31.2
Total amount paid	$	43.4	$	43.4	$	43.4	$	43.4	$	173.6
Per common share	$	0.50	$	0.50	$	0.50	$	0.50	$	2.00
Shares outstanding	86.8		86.8		86.8		86.8