The following table summarizes the common stock dividends declared by our Board of Directors under the policy described above: Because the average realized silver prices for the second and fourth quarters of 2012 were $27.05 and $29.20 per ounce, respectively, below the  minimum threshold of $30 according to the policy, no silver-price-linked component was declared or paid. However, on February 25, 2013, our Board of  Directors declared a special common stock dividend of $0.01 per share, in addition to the minimum dividend of $0.0025 per share, for an aggregate  dividend of $3.6 million payable in March 2013. Prior to 2011, no dividends had been declared on our common stock since 1990. The declaration and  payment of common stock dividends is at the sole discretion of our Board of Directors. On May 8, 2012, we announced that our Board of Directors approved a stock repurchase program. Under the program, we are authorized to  repurchase up to 20 million shares of our outstanding common stock from time to time in open market or privately negotiated transactions, depending  on prevailing market conditions and other factors. The repurchase program may be modified, suspended or discontinued by us at any time. As of  December 31, 2012, 350,300 shares have been repurchased under the program, at an average price of $5.54 per share, leaving 19.65 million shares that  may yet be purchased under the program. The closing price of our common stock at February 21, 2013, was $4.90 per share. In December 2008, we issued 10.2 million shares of common stock, Series 1 warrants to purchase 8.1 million shares of common stock, and Series 2  warrants to purchase 7.7 million shares of common stock. The Series 2 warrants expired in February 2009. In February 2009, we issued 36.8 million  shares of common stock and Series 3 warrants to purchase 18.4 million shares of common stock. Each of these issuances were made pursuant to a shelf  registration statement filed in September 2007, which became ineffective subsequent to the issuance in February 2009. The following table summarizes  certain information about our stock purchase warrants at December 31, 2012: During 2011, warrants to purchase approximately 2.1 million shares of our common stock were exercised, resulting in net proceeds to us of  approximately $5.3 million. No warrants were exercised during 2012. Under the terms of the Consent Decree settling the Coeur d’Alene Basin  litigation, the proceeds from the exercise of our outstanding warrants will be paid to the Plaintiffs within 30 days after the end of the quarter when  exercised. As such, proceeds from Series 1 and Series 3 warrant exercises totaling approximately $0.7 million and $9.8 million were paid to the Plaintiffs  in 2012 and 2011, respectively. Our certificate of incorporation authorizes us to issue 5,000,000 shares of preferred stock, par value $0.25 per share. The preferred stock is issuable in  series with such voting rights, if any, designations, powers, preferences and other rights and such qualifications, limitations and restrictions as may be  determined by our Board of Directors. The Board may fix the number of shares constituting each series and increase or decrease the number of shares  of any series. As of December 31, 2012, 157,816 shares of Series B Preferred Stock were outstanding. Our Series B Preferred Stock is listed on the New  York Stock Exchange under the symbol “HL PB.” On January 1, 2011, all 2,012,500 outstanding shares of our 6.5% Mandatory Convertible Preferred Stock were automatically converted to shares of  our common stock at a conversion rate of 9.3773 shares of Common Stock for each share of 6.5% Mandatory Convertible Preferred Stock. We issued  approximately 18.9 million shares of common stock in connection with the mandatory conversion. The Series B Preferred Stock ranks senior to our common stock and any shares of Series A Junior Participating Preferred shares (none of which have  ever been issued) with respect to payment of dividends, and amounts upon liquidation, dissolution or winding up. While any shares of Series B Preferred Stock are outstanding, we may not authorize the creation or issue of any class or series of stock that ranks  senior to the Series B Preferred Stock as to dividends or upon liquidation, dissolution or winding up without the consent of the holders of 66 2/3% of  the outstanding shares of Series B Preferred Stock and any other series of preferred stock ranking on a parity with respect to the Series B Preferred  Stock as to dividends and upon liquidation, dissolution or winding up, voting as a single class without regard to series. Ranking Preferred Stock Status of Warrants F-22 [ HL:10-K ]  Common Stock Repurchase Program (A) (B) (A+B) Silver- Minimum Total  price-linked  annual Total dividend  component   component  dividend amount Declaration date per share per share per share  (in millions) Month of payment  November 8, 2011  $ 0.02 $ 0 $ 0.02 $ 5.6 December 2011 February 17, 2012  $ 0.01 $ 0.0025 $ 0.0125 $ 3.6 March 2012 May 8, 2012 $ 0.02 $ 0.0025 $ 0.0225 $ 6.4  June 2012 August 7, 2012 $ — $ 0.0025 $ 0.0025 $ 0.7 September 2012 November 2, 2012  $ 0.02 $ 0.0025 $ 0.0225 $ 6.4 December 2012 February 25, 2013  $ — $ 0.0025 $ 0.0025 $ 0.7 anticipated in March 2013 Warrants Outstanding  Warrants Exercise Price  Expiration Date Series 1 warrants  5,200,519 $ 2.41 June 2014 Series 1 warrants  460,976 2.52 June 2014 Series 3 warrants  16,671,128 2.46 August 2014 Total warrants outstanding  22,332,623