|9 Months Ended|
Sep. 30, 2018
|Subsequent Events [Abstract]|
These Consolidated Financial Statements include a discussion of material events, if any, that have occurred subsequent to September 30, 2018 through the issuance of these Consolidated Financial Statements.
On November 7, 2018, the Company declared dividends of $0.609375, $0.503125 and $0.523438 per share on the 9.750% Series B, 8.050% Series C and 8.375% Series D preferred stock, respectively, for the period beginning November 1, 2018 and ending January 31, 2019. Dividends totaling $1.4 million will be paid on January 31, 2019 to stockholders of record on January 2, 2019.
On November 7, 2018, the Board appointed Mr. Kenneth A. May as Chief Executive Officer and President of the Company and as a member of the Board, effective as of November 12, 2018 (the “Effective Date”). Mr. May will serve as a Class I director until the 2021 Annual Meeting of Stockholders, and until his successor is duly elected and qualified. The Board has also appointed Mr. David M. Hammarley as Chief Financial Officer of the Company, effective as of the Effective Date.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef