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Shareholders' Equity
 12 Months Ended
Dec. 31, 2022
Shareholders' Equity  
Shareholders' Equity

13. Shareholders’ Equity

In the year ended December 31, 2022, the Company declared and paid dividends of $3.5 million, or $0.04 per share. The Company declared dividends of $3.1 million and paid dividends of $3.4 million, or $0.0433 per share for the year ended December 31, 2021. On February 13, 2023, the Company announced the suspension of future quarterly dividends to protect our balance sheet and to focus capital resources on exploration and growth opportunities.

On April 3, 2018, the Company entered into an At-The-Market Offering Agreement (the “ATM Agreement”) with an investment banking firm (“Agent”), pursuant to which the Agent agreed to act as the Company’s sales agent with respect to the offer and sale from time to time of the Company’s common stock having an aggregate gross sales price of up to $75.0 million (the “Shares”), which was subsequently renewed in June 2020. The ATM Agreement will remain in effect until the earlier of (i) June 3, 2023 or (ii) the date that the ATM Agreement is terminated in accordance with its terms. No shares of the Company’s common stock were sold through the ATM Agreement during the years ended December 31, 2022 and 2021.

During the year ended December 31, 2021, the Company issued 13,714,630 shares of common stock in connection with the Aquila acquisition at a price of $1.79 per share in exchange for 100% of Aquila’s common shares.