filings.toolsItem 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
(a)Our common stock is listed under the ticker symbol “AVY” on the New York Stock Exchange. We did not sell securities in any unregistered transactions during fiscal year 2022. We have historically paid quarterly cash dividends. Future dividend payments are subject to the approval by our Board of Directors based on our earnings, capital requirements, financial condition and other factors.
We had 3,799 shareholders of record as of December 31, 2022, the last day of our fiscal year 2022.
Stockholder Return Performance
The graph below compares the cumulative stockholder return on our common stock, including reinvestment of dividends, with the return on the S&P 500 Stock Index and the average return (weighted by market capitalization) of the S&P 500 Materials and Industrials subsets (the “Market Basket”), in each case for the five-year period ending December 31, 2022.
Total Return Analysis**(1)**
| 12/31/2017 | 12/31/2018 | 12/31/2019 | 12/31/2020 | 12/31/2021 | 12/31/2022 | |||||||||||||||
| Avery Dennison | $ | 100 | $ | 80 | $ | 118 | $ | 143 | $ | 202 | $ | 172 | ||||||||
| S&P 500 Index | 100 | 96 | 126 | 149 | 192 | 157 | ||||||||||||||
| Market Basket(2) | 100 | 90 | 119 | 141 | 177 | 172 |
(1)Assumes $100 invested on December 31, 2017 and reinvestment of dividends.
(2)Average weighted by market capitalization.
(b)Not applicable.
(c)Repurchases of Equity Securities by Issuer
Repurchases by us or our “affiliated purchasers” (as defined in Rule 10b-18(a)(3) of the Exchange Act) of registered equity securities in the fourth quarter of 2022 are shown in the table below. Repurchased shares may be reissued under our long-term incentive plan or used for other corporate purposes.
| Period**(1)** | Total number of shares purchased**(2)** | Average price paid per share | Total number of shares purchased as part of publicly announced plans**(2)(3)** | Approximate dollar value of shares that may yet be purchased under the plans**(4)** | ||||||||||||||||||||||
| October 2, 2022 – October 29, 2022 | 165.2 | $ | 168.4 | 165.2 | $ | 763.2 | ||||||||||||||||||||
| October 30, 2022 – November 26, 2022 | 103.1 | 174.2 | 103.1 | 745.2 | ||||||||||||||||||||||
| November 27, 2022 – December 31, 2022 | 83.4 | 182.0 | 83.4 | 730.0 | ||||||||||||||||||||||
| Total | 351.7 | $ | 173.3 | 351.7 | $ | 730.0 |
(1)The periods shown are our fiscal months during the thirteen-week quarter ended December 31, 2022.
(2)Shares in thousands.
(3)In April 2022, our Board authorized the repurchase of shares of our common stock with a fair market value of up to $750 million, excluding any fees, commissions or other expenses related to such purchases, in addition to the amount outstanding under our previous Board authorization. Board authorizations remain in effect until shares in the amount authorized thereunder have been repurchased..
(4)Dollars in millions.
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