Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity

v2.4.0.6
Shareholders' Equity
12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
We are party to a sales agency financing agreement with BNY Mellon Capital Markets, LLC relating to the issuance and sale of up to $250.0 million of our common shares from time to time over a period of no more than 36 months from June 2012. Sales of our common shares are made at market prices prevailing at the time of sale. Net proceeds for the sale of common shares under this program are used for general corporate purposes. As of December 31, 2012, we have not issued any common shares under this sales agency financing agreement. We executed issuances under a previous sales agency financing agreement during the year ended December 31, 2010 as follows (in thousands, except for weighted average issue price):
 
Year Ended December 31, 2010
Common shares issued
5,645

Weighted average issue price
$
30.34

Net proceeds
$
168,881


We have a dividend reinvestment program, whereby shareholders may use their dividends and optional cash payments to purchase common shares. The common shares sold under this program may either be common shares issued by us or common shares purchased in the open market. Net proceeds under this program are used for general corporate purposes. We executed issuances under this program for the three years ended December 31, 2012 as follows (in thousands, except for weighted average issue price):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Common shares issued
55

 
171

 
175

Weighted average issue price
$
29.67

 
$
29.97

 
$
30.36

Net proceeds
$
1,316

 
$
5,043

 
$
5,286