Stockholders’ Equity

Our authorized capital stock consists of 450,000,000 shares of common stock, $0.01 par value per share and 50,000,000 shares of preferred stock, $0.01 par value per share. As of December 31, 2018, 133,853,565 shares of common stock were issued and outstanding, 6,770,393 shares of Series B Preferred Stock were issued and outstanding, and 6,900,000 shares of Series C Preferred Stock were issued and outstanding.

In October 2017, we concurrently entered into a common stock purchase agreement and a preferred stock repurchase agreement with QHREAC. Pursuant to the agreements, (i) QHREAC purchased 1,670,000 shares of our common stock, par value $0.01 per share, for cash at an aggregate purchase price of $30.8 million ($18.44 per share), and (ii) we repurchased from QHREAC 1,229,607 shares of our Series B Preferred Stock, par value $0.01 per share, for an aggregate purchase price of $30.8 million (approximately $25.04 per share, made up of $25.00 liquidation value per share, plus $0.04 per share of accumulated and unpaid dividends to, but not including, the closing date of the transaction).

In August 2017, we redeemed all 3,450,000 shares of Series A Preferred Stock. Holders of the Series A Preferred Stock received the redemption price of $25.00 plus accumulated but unpaid dividends to the redemption date of $0.1079 per share.

Dividends. During 2018, 2017 and 2016, we declared the following dividends:



Dividend declared per share of:	2018	2017	2016
Common Stock ⁽¹⁾	$1.84	$1.84	$1.84
Series A Preferred Stock ⁽²⁾	N/A	1.19	2.16
Series B Preferred Stock	2.00	2.00	2.00
Series C Preferred Stock	2.00	2.00	1.00

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(1)	As our aggregate 2018 distributions exceeded our earnings and profits, $0.46 of the January 2019 distribution declared in the fourth quarter of 2018 are payable to common stockholders of record as of December 31, 2018 will be treated as a 2019 distribution for U.S. federal income tax purposes.


(2)	The Series A Preferred Stock shares were redeemed in full in August 2017.

Common Stock Issuances. During the first quarter of 2018, we completed a follow-on public offering of 15,525,000 shares of our common stock, at a price of $17.77 per share. The aggregate net proceeds from the offering, including proceeds from the sale of the additional shares, were approximately $275.9 million after deducting the underwriting discount and estimated offering expenses payable by us.

During 2018, we issued 10,828,475 shares of our common stock related to exchanges and conversions of the 2019 Notes. Refer to "Note 10 - Convertible Senior Notes, Net" for a further discussion on the exchanges and conversions of the 2019 Notes.

During the second quarter of 2017, we completed a follow-on public offering of 13,800,000 shares of our common stock, at a price of $18.05 per share. The aggregate net proceeds from the offering, including proceeds from the sale of the additional shares, were approximately $248.9 million after deducting estimated offering expenses payable by us.

During the fourth quarter of 2016, we completed a follow-on public offering of 10,500,000 shares of our common stock, at a price of $16.97 per share. The aggregate net proceeds from the offering, including proceeds from the sale of the additional shares, were approximately $177.8 million after deducting estimated offering expenses payable by us.

AMTG Merger. In addition, we issued common and preferred equity in connection with the AMTG Merger as described in "Note 19 - Business Combination."