Stockholders' Equity
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Dividends
On May 25, 2016, the Board of Directors declared a two-for-one stock split of the Company’s outstanding common stock, effected through a stock dividend. The additional shares were distributed on June 27, 2016 to stockholders of record at the close of business on June 9, 2016. All references made to share or per share amounts in the accompanying condensed consolidated financial statements and applicable disclosures reflect this two-for-one stock split.
The Board of Directors approved the following cash dividends in 2016 (in millions, except per share data):
Declaration Date
 
Dividends Per Share
 
Record Date
 
Cash Payment Amount
 
Payment Date
February 24, 2016
 
$0.08
 
March 11, 2016
 
$3.8
 
March 28, 2016
May 9, 2016
 
$0.08
 
May 25, 2016
 
$3.7
 
June 15, 2016
August 8, 2016
 
$0.08
 
August 24, 2016
 
$3.8
 
September 15, 2016
November 4, 2016
 
$0.09
 
November 23, 2016
 
N/A (1)
 
December 15, 2016
___________________________________________
(1)
Amount will be determined based on common stock outstanding as of the record date.
Repurchase of Common Stock
The Company’s Board of Directors authorized a share repurchase program that may be discontinued or amended at any time. The program will expire when the amount authorized has been expended or the Board of Directors withdraws its authorization. As of September 30, 2016, the Company had approximately $4.3 million available for future share repurchases under the program.
The following table summarizes the Company’s stock repurchase activities (in millions, except share and per share data):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Number of shares repurchased
99,210

 
99,022

 
188,126

 
296,838

Average price per share
$
37.77

 
$
30.30

 
$
38.52

 
$
30.32

Total repurchase costs
$
3.7

 
$
3.0

 
$
7.2

 
$
9.0