Annual report pursuant to Section 13 and 15(d)

Equity Structure and Transactions

v2.4.1.9
Equity Structure and Transactions
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Equity Structure and Transactions

9. Equity Structure and Transactions

As of December 31, 2014 and 2013, the Company was authorized to issue 20 million shares of preferred stock with a par value of $0.00001 per share; however, no preferred shares have been issued or were outstanding as of the respective dates.

During 2014, 2013 and 2012, we paid regular cash dividends of $0.40, $0.36 and $0.32 common share per year, respectively.  In December 2013, we paid a special dividend of $0.42 per share or $31.8 million.  In December 2012, we paid two special dividends totaling $0.79 per share or $59.0 million.  Dividends are subject to periodic reviews of the Company’s performance and current economic environment and applicable debt agreement restrictions.  In light of current market conditions, the Board of Directors has elected to suspend the regular quarterly dividend.