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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stockholders' Equity

Note 17 – 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, 2024, 138,174,636 shares of common stock were issued

and outstanding and 6,770,393 shares of our 7.25% Series B-1 Cumulative Redeemable Perpetual Preferred Stock ("Series B-1 Preferred Stock") were issued and outstanding. The Series B-1 Preferred Stock, with a par value $0.01 per share, have a liquidation preference of $25.00 per share.

Dividends. The following table details our dividend activity:

 

 

Year Ended December 31,

 

Dividends declared per share of:

 

2024

 

 

2023

 

 

2022(1)

 

Common Stock

 

$

1.20

 

 

$

1.40

 

 

$

1.40

 

Series B-1 Preferred Stock

 

$

1.81

 

 

$

1.81

 

 

$

1.81

 

———————

(1) As our aggregate 2022 distributions did not exceed our earnings and profits, $0.1185 of the January 2023 distribution declared in the fourth quarter of 2022, and payable to common stockholders of record as of December 31, 2022, was treated as a 2022 distribution for U.S. federal income tax purposes.

 

Common Stock Repurchases. During the year ended December 31, 2024, we repurchased 4,013,405 shares, of our common stock at a weighted-average price of $10.15 per share. There was no common stock repurchase activity during the years ended December 31, 2023 and 2022.

 

As of December 31, 2024, the approximate dollar value of shares that may yet be purchased under our stock repurchase program was $131.6 million.