Quarterly report pursuant to Section 13 or 15(d)

Share Repurchase Program

v3.7.0.1
Share Repurchase Program
 6 Months Ended
Jun. 30, 2017
Share repurchase program [Abstract]  
Share Repurchase Program
Share Repurchase Program

In May 2017, we announced that our Board of Directors authorized the repurchase of up to $125.0 million of our outstanding common shares as market conditions warrant over a period commencing on May 19, 2017 and expiring on May 18, 2019.  Repurchases may be made through open market, privately-negotiated, structured or derivative transactions (including accelerated stock repurchase transactions), or other methods of acquiring shares. The Company intends to structure open market purchases to occur within pricing and volume requirements of Rule 10b-18.  The Company may, from time to time, enter into Rule 10b5-1 plans to facilitate the repurchase of its shares under this authorization. Between May 19, 2017 and June 2, 2017 we repurchased approximately 1.5 million common shares on the open market at an average price of $26.25, totaling approximately $39.3 million, exclusive of commissions and related fees. The remaining amount authorized to be repurchased under the program as of June 30, 2017 was approximately $85.7 million.