Shareholders' Equity |
9 Months Ended |
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Sep. 30, 2017 | |
| Stockholders' Equity Note [Abstract] | |
| Shareholders' Equity |
Shareholders' Equity
During the fourth quarter of 2016 and each quarter of 2017, our Board of Directors declared a cash dividend of $0.15 per share of common stock. During the first, second and third quarters of 2016, the Company's Board of Directors declared a cash dividend of $0.12 per share of common stock. The Company expects to continue to pay regular quarterly cash dividends, though each subsequent quarterly dividend is subject to review and approval by the Board of Directors.
On July 21, 2016, our Board of Directors approved a stock repurchase authorization for up to three million shares of the Company’s common stock. During the three months ended September 30, 2017, we repurchased 579,769 for $29,988, or $51.72 per share. During the nine months ended September 30, 2017, we repurchased 826,633 for $41,983, or $50.79 per share. During the three months ended September 30, 2016, we repurchased 222,388 for $9,996, or $44.95 per share. During the nine months ended September 30, 2016, we repurchased 676,773 shares for $29,986, or an average of $44.31 per share. The repurchases made for the three and nine months ended September 30, 2016 were made under a previous share repurchase plan approved by our Board of Directors on February 7, 2014. This plan was canceled and replaced on July 21, 2016. As of September 30, 2017, 1,939,851 shares remain to be purchased under the 2016 Plan.
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