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Shareholders' Equity
 3 Months Ended
Mar. 31, 2015
Shareholders' Equity [Abstract]  
Shareholders' Equity

 

Note 8.  Shareholders’ Equity

 

On January 12, 2015, the Company concluded a public offering of 5,750,000 shares of its common stock (including 750,000 shares relating to the exercise of an over-allotment option by the underwriters), and realized net proceeds, after offering expenses, of approximately $41.9 million.

 

The Company has at-the-market offering programs, under which it may offer and sell, from time-to-time, shares of its common and preferred stock. During the three months ended March 31, 2015, there were no shares sold under these programs.

 

Dividends

 

The following table provides a summary of dividends declared and paid per share:

 

 

 

 

 

 

 

Three months ended March 31,

 

2015

 

2014

Common stock

$               0.050 

 

$               0.050 

7.250% Series B Preferred Stock

$               0.453 

 

$               0.453 

 

On April 20, 2015, the Company’s Board of Directors declared a dividend of $0.05 per share with respect to its common stock. At the same time, the Board declared a dividend of $0.453125 per share with respect to the Company’s Series B Preferred Stock. The distributions are payable on May 20, 2015 to shareholders of record on May 8, 2015.