v3.25.2
EQUITY (Notes)
 6 Months Ended
Jun. 30, 2025
Class of Stock [Line Items]  
Stockholders' Equity Note Disclosure [Text Block] EQUITY
In May 2025, we entered into an underwriting agreement and a forward sale agreement for 2.5 million shares of our common stock and granted the underwriter an option to purchase up to 375,000 additional shares of our common stock, which was not exercised. The forward sale agreement provides for settlement on a date, or dates, to be specified at our discretion, but which will occur no later than December 31, 2026.

In February 2023, we entered into an at-the-market equity distribution agreement under which we may issue and sell shares of our common stock with an aggregate offering price up to $300 million. Sales of common stock are made by means of ordinary brokers’ transactions on the NYSE, in block transactions or as otherwise agreed to between us and the sales agent. We are under no obligation to offer and sell common stock under the program. At June 30, 2025, we had $225.5 million of equity available for issuance under the program.
The following table summarizes all of our outstanding forward sale agreements at June 30, 2025:

MaturityOriginal SharesRemaining SharesForward PriceNet Proceeds Available
(Shares)(Shares)(Per share)(Thousands of dollars)
December 31, 20251,200,000 223,000 $74.64 $16,644 
December 31, 2025180,000 180,000 74.59 13,425 
December 31, 20262,500,000 2,500,000 78.47 196,167 
Total forward sale agreements3,880,000 2,903,000 $77.93 $226,236 
Dividends Declared - In August 2025, we declared a dividend of $0.67 per share ($2.68 per share on an annualized basis) for shareholders of record as of August 18, 2025, payable on September 3, 2025.