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Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders’ EquityOur 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, 2021, 139,894,060 shares of common stock were
issued and outstanding, and 6,770,393 shares of 7.25% Series B-1 Preferred Stock were issued and outstanding.
One June 10, 2019, we redeemed all 6,900,000 shares of Series C Preferred Stock outstanding. Holders of the Series C Preferred Stock received the redemption price of $25.00 plus accumulated but unpaid dividends to the redemption date of $0.2223 per share.
On July 15, 2021, we exchanged all 6,770,393 shares outstanding of our 8.00% Fixed-to-Floating Series B Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share ("Series B Preferred Stock"), with a liquidation preference of $25.00 per share, for 6,770,393 shares of 7.25% Series B-1 Preferred Stock, par value $0.01 per share ("Series B-1 Preferred Stock"), with a liquidation preference of $25.00 per share, pursuant to an exchange agreement with the two existing holders of the Series B Preferred Stock.
Dividends. The following table details our dividend activity:
Year ended December 31,
Dividends declared per share of:202120202019
Common Stock(1)
$1.40$1.45$1.84
Series B Preferred Stock1.002.002.00
Series B-1 Preferred Stock0.90N/AN/A
Series C Preferred Stock(2)
N/AN/A0.72
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(1) As our aggregate 2021 distributions did not exceed our earnings and profits, $0.1055 of the January 2022 distribution declared in the fourth quarter of 2021, and payable to common stockholders of record as of December 31, 2021, will be treated as a 2021 distribution for U.S. federal income tax purposes.
(2) The Series C Preferred Stock was redeemed in full in June 2019.
Common Stock Offerings. During the first quarter of 2019, we issued 1,967,361 shares of our common stock, at a per share conversion price of $17.17, related to conversions of the 2019 Notes, the remainder of which matured on March 15, 2019. We recorded a $33.8 million increase in additional paid in capital in our consolidated statement of changes in stockholders' equity.
During the second quarter of 2019, we completed a follow-on public offering of 17,250,000 shares of our common stock, including shares issued pursuant to the underwriters' option to purchase additional shares, at a price of $18.27 per share. The aggregate net proceeds from the offering were $314.8 million after deducting offering expenses.
Common Stock Repurchases. There was no common stock repurchase activity during the year ended December 31, 2021. As of December 31, 2021 there was $172.2 million remaining authorized under our stock repurchase program.

The following table details our common stock repurchase activity during the year ended December 31, 2020:
Three months ended
March 31, 2020June 30, 2020September 30, 2020December 31, 2020Total
Shares Repurchased300,000 5,495,976 5,038,619 3,998,037 14,832,632 
Weighted Average Price$8.11$7.96$9.01$9.03$8.61