Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
The Company effected the initial public offering of its Class A Common Stock in November 1991. The Company’s common stock has been listed on the New York Stock Exchange since that time under the symbol “APH.” The following table sets forth on a per share basis the high and low sales prices for the common stock for both 2014 and 2013 as reported on the New York Stock Exchange. The Company effected a two-for-one stock split in the form of a stock dividend, payable to stockholders of record as of October 2, 2014, which was paid on October 9, 2014. The per share information reflected below has been retroactively restated to reflect the effect of the stock split for all periods presented.
| 2014 | 2013 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High | Low | High | Low | ||||||||||
| First Quarter | $ | 46.85 | $ | 42.30 | $ | 37.33 | $ | 33.35 | |||||
| Second Quarter | 49.38 | 45.78 | 41.65 | 35.75 | |||||||||
| Third Quarter | 52.92 | 47.47 | 42.69 | 37.06 | |||||||||
| Fourth Quarter | 55.50 | 45.73 | 44.59 | 37.42 | |||||||||
The below graph compares the performance of Amphenol over a period of five years ending December 31, 2014 with the performance of the Standard & Poor’s 500 Stock Index and the Dow Jones U.S. Electrical Components and Equipment (“DJUSEC”) Index.
Total Daily Compounded Return indices reflect reinvested dividends and are weighted on a market capitalization basis at the time of each reported data point. The comparisons in the graph below are based upon historical data and are not indicative of, nor intended to forecast future performance.

As of January 31, 2015, there were 36 holders of record of the Company’s common stock. A significant number of outstanding shares of common stock are registered in the name of only one holder, which is a nominee of The Depository Trust Company, a securities depository for banks and brokerage firms. The Company believes that there are a significant number of beneficial owners of its common stock.
Contingent upon declaration by the Board of Directors, the Company generally pays a quarterly dividend on its common stock. In July 2013, the Board of Directors approved an increase in the quarterly dividend rate from $0.0525 to $0.10 per share effective with the third quarter 2013 dividend and in July 2014 approved a further increase in the quarterly dividend rate from $0.10 to $0.125 per share effective with the third quarter 2014 dividend. Total dividends declared during 2014, 2013 and 2012 were $140.6 million, $96.8 million and $67.7 million, respectively. Total dividends paid in 2014, 2013 and 2012 were $101.9 million, $96.8 million and $70.1 million, respectively, including those declared in the prior year and paid in the current year. The Company intends to retain the remainder of its earnings not used for dividend payments to provide funds for the operation and expansion of the Company’s business (including acquisition-related activity), to repurchase shares of its common stock and to repay outstanding indebtedness.
The Company’s Revolving Credit Facility contains financial covenants and restrictions, some of which may limit the Company’s ability to pay dividends, and any future indebtedness that the Company may incur could limit its ability to pay dividends.
The following table summarizes the Company’s equity compensation plan information as of December 31, 2014.
| Equity Compensation Plan Information | ||||||||
|---|---|---|---|---|---|---|---|---|
| Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance | |||||
| Equity compensation plans approved by security holders | 27,806,260 | $ | 31.61 | 25,290,502 | ||||
| Equity compensation plans not approved by security holders | — | — | — | |||||
| Total | 27,806,260 | $ | 31.61 | 25,290,502 |
Repurchase of Equity Securities
In January 2013, the Company’s Board of Directors authorized a stock repurchase program under which the Company could repurchase up to 20 million shares of its common stock during the two year period ending January 31, 2015 (the “2013 Stock Repurchase Program”). During the year ended December 31, 2014, the Company repurchased 11.4 million shares of its common stock for $539.4 million. These treasury shares have been retired by the Company and common stock and retained earnings were reduced accordingly. At December 31, 2014, the Company had repurchased all shares authorized under the 2013 Stock Repurchase Program. The table below reflects the Company’s stock repurchases for the year ended December 31, 2014:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| January 1 to January 31, 2014 | 1,386,000 | $ | 43.07 | 1,386,000 | 10,042,610 | |||||
| February 1 to February 28, 2014 | 1,418,778 | 42.77 | 1,418,778 | 8,623,832 | ||||||
| March 1 to March 31, 2014 | 17,188 | 43.88 | 17,188 | 8,606,644 | ||||||
| April 1 to April 30, 2014 | — | — | — | 8,606,644 | ||||||
| May 1 to May 31, 2014 | 2,455,228 | 47.61 | 2,455,228 | 6,151,416 | ||||||
| June 1 to June 30, 2014 | 254,400 | 47.70 | 254,400 | 5,897,016 | ||||||
| July 1 to July 31, 2014 | 47,800 | 48.14 | 47,800 | 5,849,216 | ||||||
| August 1 to August 31, 2014 | 1,348,490 | 48.55 | 1,348,490 | 4,500,726 | ||||||
| September 1 to September 30, 2014 | 1,600,000 | 51.80 | 1,600,000 | 2,900,726 | ||||||
| October 1 to October 31, 2014 | 2,900,726 | 47.78 | 2,900,726 | — | ||||||
| November 1 to November 30, 2014 | — | — | — | — | ||||||
| December 1 to December 31, 2014 | — | — | — | — | ||||||
| Total | 11,428,610 | $ | 47.20 | 11,428,610 | — |
In January 2015, the Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 10 million shares of common stock during the two year period ending January 20, 2017 (the “2015 Stock Repurchase Program”). The price and timing of any such purchases under the 2015 Stock Repurchase Program will depend on factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, economic and market conditions and stock price.
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