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Common Stock and Series B Convertible Preferred Stock | 3 Months Ended
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Mar. 29, 2020
Common Stock and Series B Convertible Preferred Stock |
Common Stock and Series B Convertible Preferred Stock | 6. Common Stock and Series B Convertible Preferred Stock ​ Shares Authorized and Outstanding ​ The Company has authorized 5.0 million shares of preferred stock, 100.0 million shares of common stock, and 260,000 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”). The Company’s outstanding shares of common stock were 32.0 million shares at March 29, 2020 and 31.9 million shares at December 29, 2019. ​ There were 252,530 shares of Series B Preferred Stock outstanding at both March 29, 2020 and December 29, 2019. The Series B Preferred Stock is classified as temporary equity on the Condensed Consolidated Balance Sheets as of March 29, 2020 and December 29, 2019. ​ Dividends ​ The Company recorded dividends of approximately $10.7 million in the first quarter of 2020 consisting of the following: ​
| ● | $7.3 million paid to common stockholders ($0.225 per share);
| ● | $1.1 million in common stock “pass-through” dividends paid to Series B Preferred Stockholders on an as-converted basis ($0.225 per share); and
| ● | $2.3 million in preferred dividends on the Series B Preferred Stock (3.6% of the investment per annum) were declared with a record date of March 16, 2020 and paid on April 1, 2020.
​ On April 30, 2020, our Board of Directors declared a second quarter dividend of $0.225 per common share (of which approximately $7.3 million will be paid to common stockholders and $1.1 million will be paid as “pass through” dividends to holders of Series B Preferred Stock on an “as converted basis”). The second quarter preferred dividend was also declared on April 30, 2020. The common share dividend will be paid on May 22, 2020 to stockholders of record as of the close of business on May 11, 2020. The second quarter preferred dividend of $2.3 million will be paid to holders of Series B Preferred Stock on July 1, 2020.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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