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Equity
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Equity

Note 14—Equity

The Company is authorized to issue up to 206,000,000 shares of common stock of $0.01 par value. At December 31, 2015 and 2014, the Company had 74,988,210 and 77,893,144 shares outstanding, respectively. The Company is also authorized to issue 2,000,000 shares of $0.01 par value preferred stock. As of December 31, 2015, no shares of preferred stock have been issued.

 

Stock Repurchase

In 2015, the Company repurchased a total of 3.0 million shares at a cost of $54.9 million. In 2014, a total of 1.2 million shares were repurchased at a cost of $26.2 million. In 2013, the Company repurchased 3.7 million shares at a cost of $75.0 million. The Company funded such repurchases with cash on hand and borrowings to the existing revolving credit facility. As of December 31, 2015, 2014 and 2013, the repurchased shares were permanently retired.

Dividends

During 2013, the Company implemented a policy under which EVERTEC pays a regular quarterly dividend on the Company’s common stock, subject to the declaration thereof each quarter by the Company’s Board of Directors. The Company’s dividend activity in 2015 and 2014 was as follows:

 

Declaration Date

   

Record Date

   

Payment Date

    Dividend per share  

February 12, 2014

    February 25, 2014    March 14, 2014      0.10   

May 7, 2014

    May 19, 2014    June 6, 2014      0.10   

August 6, 2014

    August 18, 2014    September 5, 2014      0.10   

November 5, 2014

    November 17, 2014    December 5, 2014      0.10   

February 18, 2015

    March 2, 2015    March 19, 2015      0.10   

May 6, 2015

    May 18, 2015    June 5, 2015      0.10   

August 5, 2015

    August 17, 2015    September 3, 2015      0.10   

November 4, 2015

    November 16, 2015    December 4, 2015      0.10   

Accumulated Other Comprehensive income

The following table provides a summary of the changes in the balances comprising accumulated other comprehensive loss for the year ended December 31, 2015:

 

     Foreign Currency
Translation
Adjustments		      Cash Flow Hedge      Total  

Balance—December 31, 2013

    $ 426       $ —         $ 426   

Additions:

      (6,948 )       —           (6,948 ) 
  

 

 

     

 

 

     

 

 

  

Balance—December 31, 2014

      (6,522 )       —           (6,522 ) 

Additions:

      (545 )       (515 )       (1,060 ) 
  

 

 

     

 

 

     

 

 

  

Balance—December 31, 2015

    $ (7,067 )     $ (515 )     $ (7,582 )