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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2020
Stockholders Equity Note [Abstract] |
Shareholders' Equity | Note 7. Shareholders’ Equity Preferred Stock The Company is authorized to issue up to 12,500,000 shares of preferred stock. The following tables summarize details about the Company’s preferred stock:
|  | Series B |  |  | Series C |  |  |  |  |  |  |  |  |
|  | Preferred Stock |  |  | Preferred Stock |  |  |  |  |  |  |  |  |
Par value |  | $ | 0.01 |  |  | $ | 0.01 |  |  |  |  |  |  |  |  |
Liquidation value |  | $ | 25.00 |  |  | $ | 25.00 |  |  |  |  |  |  |  |  |
|  | June 30, 2020 |  |  | December 31, 2019 |
|  | Series B |  |  | Series C |  |  | Series B |  |  | Series C |
|  | Preferred Stock |  |  | Preferred Stock |  |  | Preferred Stock |  |  | Preferred Stock |
Shares authorized |  |  | 1,450,000 |  |  |  | 6,450,000 |  |  |  | 1,450,000 |  |  |  | 6,450,000 |
Shares issued and outstanding |  |  | 1,450,000 |  |  |  | 5,000,000 |  |  |  | 1,450,000 |  |  |  | 5,000,000 |
Balance |  | $ | 34,767,000 |  |  | $ | 124,774,000 |  |  | $ | 34,767,000 |  |  |  | 124,774,000 |
Dividends The following table provides a summary of dividends declared and paid per share:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Common stock |  | $ | 0.010 |  |  | $ | 0.050 |  |  | $ | 0.060 |  |  | $ | 0.100 |
7.25% Series B Preferred Stock |  | $ | 0.453 |  |  | $ | 0.453 |  |  | $ | 0.906 |  |  | $ | 0.906 |
6.50% Series C Preferred Stock |  | $ | 0.406 |  |  | $ | 0.406 |  |  | $ | 0.813 |  |  | $ | 0.813 |
On July 20, 2020, the Company’s Board of Directors declared a dividend of $0.01 per share with respect to its common stock. At the same time, the Board declared dividends of $0.453125 and $0.406250 per share with respect to the Company’s Series B Preferred Stock and Series C Preferred Stock, respectively. The distributions are payable on August 20, 2020 to shareholders of record on August 10, 2020.

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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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