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 2024. 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 3,391 shareholders of record as of December 28, 2024, the last day of our 2024 fiscal year.
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, S&P 500 Industrials Index and Dow Jones U.S. Container & Packaging Index, in each case for the five-year period ending December 31, 2024.
Total Return Analysis**(1)**
| 12/31/2019 | 12/31/2020 | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | |||||||||||||||
| Avery Dennison | $ | 100 | $ | 121 | $ | 171 | $ | 145 | $ | 165 | $ | 155 | ||||||||
| Dow Jones U.S. Container & Packaging Index | 100 | 121 | 135 | 112 | 120 | 136 | ||||||||||||||
| S&P 500 Industrials Index | 100 | 111 | 135 | 127 | 150 | 176 | ||||||||||||||
| S&P 500 Index | 100 | 118 | 152 | 125 | 158 | 197 |
(1) Assumes $100 invested on December 31, 2019 and reinvestment of dividends.
(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 2024 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**(3)** | Total number of shares purchased as part of publicly announced plans**(2)(4)** | Approximate dollar value of shares that may yet be purchased under the plans**(5)** | ||||||||||||||||||||||
| September 29, 2024 – October 26, 2024 | 105.5 | $ | 215.1 | 105.5 | $ | 462.9 | ||||||||||||||||||||
| October 27, 2024 – November 23, 2024 | 271.7 | 203.2 | 271.7 | 407.7 | ||||||||||||||||||||||
| November 24, 2024 – December 28, 2024 | 311.0 | 195.6 | 311.0 | 346.9 | ||||||||||||||||||||||
| Total | 688.2 | $ | 201.6 | 688.2 | $ | 346.9 |
(1) The periods shown are our fiscal months during the thirteen-week quarter ended December 28, 2024.
(2) Shares in thousands.
(3) Average price paid per share includes transaction costs to acquire the shares and excludes the non-deductible 1% excise tax on the net value of repurchases imposed under the Inflation Reduction Act of 2022.
(4) 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.
(5) Dollars in millions.
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