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EQUITY AND EPS | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
EQUITY AND EPS | EQUITY AND EPS Capital Stock. Common Stockholders are entitled to elect four of the nine members of the Board of Directors, while Preferred Stockholders are entitled to elect the remaining five members. All directors are elected annually for a one year term. Any vacancies on the Board are to be filled only by the shareholders and not by the Board. Shareholders who own 10 percent or more of the outstanding Common or Preferred Stock have the right to call a special meeting of stockholders. Common Stockholders are not entitled to vote with respect to a merger, dissolution, lease, exchange or sale of substantially all of the Company’s assets, or on an amendment to the Articles of Incorporation, unless such action would increase or decrease the authorized shares or par value of the Common or Preferred Stock, or change the powers, preferences or special rights of the Common or Preferred Stock so as to affect the Common Stockholders adversely. Generally, Common Stockholders and Preferred Stockholders vote as separate classes on all other matters requiring shareholder approval. EPS. The computations of basic and diluted EPS:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Operations: |  |  |  |  |
Net income(a) | $ | 40,345 |  |  | $ | 38,793 |  |  | $ | 37,284 |
Less: Income attributable to participating securities (unvested shares and units) (b) | 261 |  |  | 253 |  |  | 708 |
Net income attributable to common shareholders | $ | 40,084 |  |  | $ | 38,540 |  |  | $ | 36,576 |
Share information: |  |  |  |  |
Basic and diluted weighted average common shares(c) | 16,937,125 |  |  | 17,012,288 |  |  | 16,866,176 |
Basic and diluted EPS | $ | 2.37 |  |  | $ | 2.27 |  |  | $ | 2.17 |
(a)Net income attributable to all shareholders. (b)Participating securities included RSUs of 110,665, 111,365, and 326,375 for the years ended December 31, 2020, 2019, and 2018, respectively. (c)Under the two class method, basic weighted average common shares exclude outstanding unvested participating securities. Share Repurchase. On February 25, 2019, the Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019 through February 27, 2022. Under the share repurchase program, the company can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by the company at any time without prior notice. During the year ended December 31, 2020, the Company repurchased approximately 159,104 shares of MGP Common Stock for $4,053, resulting in $20,947 remaining under the share repurchase plan. The shares were repurchased in multiple separate tranches with the final purchase concluding on March 16, 2020. Dividends and Dividend Equivalents
Dividend and Dividend Equivalent Information (per Share and Unit)
Declaration date |  | Record date |  | Payment date |  | Declared |  | Paid |  | Dividend payment |  | Dividend equivalent payment(a)(b) |  | Total payment(b)
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
February 24 |  | March 13 |  | March 27 |  | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | 2,047 |  |  | $ | 13 |  |  | $ | 2,060 |
April 28 |  | May 22 |  | June 5 |  | 0.12 |  |  | 0.12 |  |  | 2,027 |  |  | 14 |  |  | 2,041 |
July 28 |  | August 21 |  | September 4 |  | 0.12 |  |  | 0.12 |  |  | 2,029 |  |  | 14 |  |  | 2,043 |
October 27 |  | November 20 |  | December 4 |  | 0.12 |  |  | 0.12 |  |  | 2,030 |  |  | 14 |  |  | 2,044 |
|  |  |  |  |  | $ | 0.48 |  |  | $ | 0.48 |  |  | $ | 8,133 |  |  | $ | 55 |  |  | $ | 8,188 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
February 25 |  | March 13 |  | March 29 |  | $ | 0.10 |  |  | $ | 0.10 |  |  | $ | 1,701 |  |  | $ | 13 |  |  | $ | 1,714 |
April 29 |  | May 15 |  | May 31 |  | 0.10 |  |  | 0.10 |  |  | 1,702 |  |  | 11 |  |  | 1,713 |
July 29 |  | August 14 |  | August 30 |  | 0.10 |  |  | 0.10 |  |  | 1,703 |  |  | 11 |  |  | 1,714 |
October 29 |  | November 14 |  | November 26 |  | 0.10 |  |  | 0.10 |  |  | 1,703 |  |  | 12 |  |  | 1,715 |
|  |  |  |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | 6,809 |  |  | $ | 47 |  |  | $ | 6,856 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
February 21 |  | March 9 |  | March 23 |  | $ | 0.08 |  |  | $ | 0.08 |  |  | $ | 1,348 |  |  | $ | 27 |  |  | $ | 1,375 |
April 30 |  | May 16 |  | June 1 |  | 0.08 |  |  | 0.08 |  |  | 1,348 |  |  | 27 |  |  | 1,375 |
July 31 |  | August 16 |  | August 31 |  | 0.08 |  |  | 0.08 |  |  | 1,348 |  |  | 27 |  |  | 1,375 |
October 30 |  | November 15 |  | November 30 |  | 0.08 |  |  | 0.08 |  |  | 1,349 |  |  | 26 |  |  | 1,375 |
|  |  |  |  |  | $ | 0.32 |  |  | $ | 0.32 |  |  | $ | 5,393 |  |  | $ | 107 |  |  | $ | 5,500 |
(a) Dividend equivalent payments on unvested participating securities (see Note 10). (b) Includes estimated forfeitures.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: 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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