Common Stock and Related Matters |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class of Stock Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock and Related Matters |
Common Share Repurchase Program
In July 2024, our Board of Directors approved a share repurchase program (the “2024 Share Repurchase Program”) for the repurchase of up to $1.0 billion of our outstanding common stock. In addition, in August 2025, our Board of Directors approved a new share repurchase program (the “2025 Share Repurchase Program” and, together with the 2024 Share Repurchase Program, the “Share Repurchase Programs”) for the repurchase of up to $1.0 billion of our outstanding common stock. We are not obligated to repurchase any specific dollar amount or number of shares under the Share Repurchase Programs and may discontinue these programs at any time.
For the three months ended March 31, 2026, we repurchased 227,801 shares of our common stock at a weighted average per share price of $241.43 for a total net cost of $55.0 million. For the three months ended March 31, 2025, we repurchased 651,163 shares of our common stock at a weighted average per share price of $191.86 for a total net cost of $124.9 million. As of March 31, 2026, there was $1,318.6 million remaining under the Share Repurchase Programs.
Common Stock Dividends
In April 2026, we declared an increase to our common dividend to $1.25 per common share, or $5.00 per common share annualized, effective for the first quarter of 2026.
The following table details the dividends declared and/or paid by us to common shareholders for the three months ended March 31, 2026:
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