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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Cash Dividends

Cash Dividends — The Company paid cash dividends during the six months ended June 30, 2018 and 2017 as follows:

2018:

Per Share

 

 

Total

 

 

 

 

 

 

(in thousands)

 

Paid on March 22, 2018

$

0.02

 

 

$

4,443

 

Paid on June 21, 2018

 

0.04

 

 

 

8,832

 

 

$

0.06

 

 

$

13,275

 

 

2017:

Per Share

 

 

Total

 

 

 

 

 

 

(in thousands)

 

Paid on March 22, 2017

$

0.02

 

 

$

3,326

 

Paid on June 22, 2017

 

0.02

 

 

 

4,269

 

Total cash dividends

$

0.04

 

 

$

7,595

 

 
Treasury Stock Acquisition

Treasury stock acquisitions during the six months ended June 30, 2018 were as follows (dollars in thousands):

 

Shares

 

 

Cost

 

Treasury shares at beginning of period

 

43,802,611

 

 

$

918,711

 

Purchases pursuant to stock buyback program

 

2,603,317

 

 

 

50,530

 

Acquisitions pursuant to long-term incentive plan (1)

 

459,680

 

 

 

9,349

 

Treasury shares at end of period

 

46,865,608

 

 

$

978,590

 

 

(1)

The Company withheld 459,680 shares in the second quarter of 2018 with respect to employees’ tax withholding obligations upon vesting of restricted shares.  These shares were acquired at fair market value pursuant to the terms of the Patterson-UTI Energy, Inc. 2014 Long-Term Incentive Plan and not pursuant to the stock buyback program.