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Common Stock and Series B Convertible Preferred Stock | 6 Months Ended
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Jun. 28, 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 32.3 million shares at June 28, 2020 and 31.9 million shares at December 29, 2019. ​ There were 252,530 shares of Series B Preferred Stock outstanding at both June 28, 2020 and December 29, 2019. The Series B Preferred Stock is classified as temporary equity on the Condensed Consolidated Balance Sheets as of June 28, 2020 and December 29, 2019. ​ Dividends ​ The Company recorded dividends of approximately $21.3 million in the six months ended June 28, 2020 consisting of the following: ​
| ● | $14.5 million paid to common stockholders ($0.45 per share);
| ● | $2.3 million in common stock “pass-through” dividends paid to Series B Preferred Stockholders on an as-converted basis ($0.45 per share); and
| ● | $4.5 million in preferred dividends on the Series B Preferred Stock (3.6% of the investment per annum).
​ On July 31, 2020, our Board of Directors declared a third quarter dividend of $0.225 per common share (of which approximately $7.4 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 third quarter preferred dividend was also declared on July 31, 2020. The common share dividend will be paid on August 21, 2020 to stockholders of record as of the close of business on August 11, 2020. The third quarter preferred dividend of $2.3 million will be paid to holders of Series B Preferred Stock on October 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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