ÐÇ¿Õ´«Ã½

Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY

v3.19.3
SHAREHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2019
Equity [Abstract] Ìý
SHAREHOLDERS' EQUITY
NOTE 14 - SHAREHOLDERS' EQUITY
Share Repurchase Program
On November 26, 2018, we announced a program to repurchase outstanding common shares in the open market or in privately negotiated transactions, up to a maximum of $200 million, excluding commissions and fees. On April 24, 2019, we announced that our Board of Directors increased the common share repurchase authorization by an additional $100 million, excluding commissions and fees. During the nine months ended SeptemberÌý30, 2019, we repurchased 24.4 million common shares at a cost of $252.9 million in the aggregate, including commissions and fees. As of SeptemberÌý30, 2019, there was $0.2 million available under the authorization. The share repurchase program is effective until December 31, 2019.
Dividends
On September 3, 2019, our Board of Directors declared a regular quarterly cash dividend on our common shares of $0.06 per share. In addition, on September 3, 2019, our Board of Directors declared a special cash dividend of $0.04 per share, for a total dividend distribution of $0.10 per share. We have accrued dividends recorded of $28.2 million in Other current liabilities in the Statements of Unaudited Condensed Consolidated Financial Position as of SeptemberÌý30, 2019. Subsequent to quarter end, on October 15, 2019, both the regular and special cash dividends were paid to shareholders of record as of the close of business on October 4, 2019.
On May 31, 2019, our Board of Directors declared a quarterly cash dividend on our common shares of $0.06 per share. The cash dividend was paid on July 15, 2019, to our shareholders of record as of the close of business on July 5, 2019. On each of October 18, 2018 and February 19, 2019, our Board of Directors declared a quarterly cash dividend on our common shares of $0.05 per share. The cash dividends were paid on January 15, 2019 and April 15, 2019, to our shareholders of record as of the close of business on January 4, 2019 and April 5, 2019, respectively.