Capital Stock

3 Months Ended

Mar. 31, 2020

6.	Capital Stock

Net income per share

Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended March 31, 2020 and 2019, stock options of 1.0 million and 1.0 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February 2020, the Company’s board of directors declared a quarterly cash dividend of $0.375 per share. This quarterly cash dividend of $20.7 million was paid on March 11, 2020 to stockholders of record on February 28, 2020. In April 2020, the board of directors declared a quarterly cash dividend of $0.375 per share to be paid on June 10, 2020 to shareholders of record on May 29, 2020.

Repurchase of common stock

During the three-month periods ended March 31, 2020 and 2019, the Company repurchased 2.6 million shares and approximately 14,000 shares of its Class A common stock under its stock repurchase plan for $60.9 million and $0.8 million, respectively. As of March 31, 2020, $409.3 million was available for repurchases under the Company’s stock repurchase plan.