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
Common Stock
Casey’s common stock trades on the Nasdaq Global Select Market under the symbol CASY. The 36,874,322 shares of common stock outstanding at April 30, 2018 had a market value of approximately $3.6 billion. On that date there were 1,675 shareholders of record.
Common Stock Market Prices
| Calendar 2016 | High | Low | Calendar 2017 | High | Low | Calendar 2018 | High | Low | |||||||||||||||||||
| Q1 | $ | 123.75 | $ | 98.80 | Q1 | $ | 120.90 | $ | 107.43 | Q1 | $ | 128.51 | $ | 105.45 | |||||||||||||
| Q2 | $ | 131.52 | $ | 105.17 | Q2 | $ | 117.80 | $ | 104.64 | ||||||||||||||||||
| Q3 | $ | 136.22 | $ | 115.07 | Q3 | $ | 112.61 | $ | 99.76 | ||||||||||||||||||
| Q4 | $ | 126.49 | $ | 110.45 | Q4 | $ | 125.35 | $ | 103.50 |
Dividends
We began paying cash dividends during fiscal 1991.The dividends declared in fiscal 2018 totaled $1.04 per share. The dividends declared in fiscal 2017 totaled $0.96 per share. On June 8, 2018, the Board of Directors declared a quarterly dividend of $0.29 per share payable August 15, 2018 to shareholders of record on August 1, 2018. The Board typically reviews the dividend every year at its June meeting.
The cash dividends declared during the calendar years 2016-18 were as follows:
| Calendar 2016 | Cash dividend declared | Calendar 2017 | Cash dividend declared | Calendar 2018 | Cash dividend declared | ||||||||||
| Q1 | $ | 0.220 | Q1 | $ | 0.240 | Q1 | $ | 0.260 | |||||||
| Q2 | 0.240 | Q2 | 0.260 | Q2 | 0.290 | ||||||||||
| Q3 | 0.240 | Q3 | 0.260 | ||||||||||||
| Q4 | 0.240 | Q4 | 0.260 | ||||||||||||
| 0.940 | 1.020 |
Issuer Purchases of Equity Securities
The following table sets forth information with respect to the Company's repurchases of common stock during the quarter ended April 30, 2018:
| 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 Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1) (2) | |||||||||
| Fourth Quarter: | |||||||||||||
| February 1-28, 2018 | — | $ | — | — | $ | 106,520,460 | |||||||
| March 1-31, 2018 | 234,000 | 110.05 | 234,000 | 380,769,522 | |||||||||
| April 1-30, 2018 | 441,946 | 103.13 | 441,946 | $ | 335,189,697 | ||||||||
| Total | 675,946 | $ | 105.53 | 675,946 | $ | 335,189,697 |
| (1) | On March 6, 2017, the Company announced a share repurchase program, wherein the Company is authorized to repurchase up to an aggregate of $300 million of the Company's outstanding common stock. The authorization is valid for a period of two years. The timing and number of repurchase transactions under the program depends on a variety of factors including, but not limited to, market conditions, corporate considerations, business opportunities, debt agreements, and regulatory requirements. The program can be suspended or discontinued at any time. |
| (2) | On March 7, 2018, the Company announced a second share repurchase program, wherein the Company is authorized to repurchase up to an additional aggregate of $300 million of the Company's outstanding common stock. The authorization is valid through April 30, 2020. The timing and number of repurchase transactions under the program depends on a variety of factors including, but not limited to, market conditions, corporate considerations, business opportunities, debt agreements, and regulatory requirements. The program can be suspended or discontinued at any time. |
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