Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Comcast’s Class A common stock is listed on the NASDAQ Global Select Market under the symbol CMCSA. There is no established public trading market for Comcast’s Class B common stock. The Class B common stock can be converted, on a share for share basis, into Class A common stock.



Dividends Declared
2018			2017
Month Declared:	Dividend Per Share		Month Declared:	Dividend Per Share
January	$	0.1900	January	$	0.1575
May	$	0.1900	May	$	0.1575
July	$	0.1900	July	$	0.1575
October (paid in January 2019)	$	0.1900	October (paid in January 2018)	$	0.1575
Total	$	0.76	Total	$	0.63

We expect to continue to pay quarterly dividends, although each dividend is subject to approval by our Board of Directors. In January 2019, our Board of Directors approved a 10% increase in our dividend to $0.84 per share on an annualized basis.

Holders of Class A common stock in the aggregate hold 662/3% of the voting power of our common stock. The number of votes that each share of Class A common stock has at any given time depends on the number of shares of Class A common stock and Class B common stock then outstanding, with each share of Class B common stock having 15 votes per share. The Class B common stock represents 331/3% of the combined voting power of our common stock, which percentage is generally non-dilutable under the terms of our articles of incorporation. Mr. Brian L. Roberts beneficially owns all outstanding shares of Class B common stock. Generally, including as to the election of directors, holders of Class A common stock and Class B common stock vote as one class except where class voting is required by law.

Record holders as of December 31, 2018 are presented in the table below.



Stock Class	Record Holders
Class A Common Stock	409,899
Class B Common Stock	3

The table below summarizes Comcast’s common stock repurchases during 2018.



Period	Total Number of Shares Purchased	Average Price Per Share		Total Number of Shares Purchased as Part of Publicly Announced Authorization	Total Dollar Amount Purchased Under the Publicly Announced Authorization		Maximum Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Authorization(a)
First Quarter 2018	38,659,357	$	38.92	38,551,261	$	1,500,000,000	$	5,500,000,013
Second Quarter 2018	38,315,943	$	32.62	38,315,943	$	1,250,000,000	$	4,250,000,013
Third Quarter 2018	35,627,730	$	35.09	35,627,730	$	1,250,000,000	$	3,000,000,013
October 1-31, 2018	—	$	—	—	$	—	$	3,000,000,013
November 1-30, 2018	13,946,514	$	35.85	13,946,514	$	500,000,000	$	2,500,000,013
December 1-31, 2018	13,234,018	$	37.78	13,234,018	$	500,000,000	$	2,000,000,013
Total	139,783,562	$	35.80	139,675,466	$	5,000,000,000	$	2,000,000,013


(a)	Effective January 1, 2017, our Board of Directors increased our share repurchase program authorization to $12 billion, which does not have an expiration date. As of December 31, 2018, $2 billion remained under this authorization.

The total number of shares purchased during 2018 includes 108,096 shares received in the administration of employee share-based compensation plans.

Under our publicly announced share repurchase program authorization, we may repurchase shares in the open market or in private transactions.



Comcast 2018 Annual Report on Form 10-K	31



Stock Performance Graph

Comcast

The following graph compares the annual percentage change in the cumulative total shareholder return on Comcast’s Class A common stock during the five years ended December 31, 2018 with the cumulative total returns on the Standard & Poor’s 500 Stock Index and a select peer group consisting of us and other companies engaged in the cable, communications and media industries. This peer group (the “new peer group index”) consists of our common stock, DISH Network Corporation (Class A), Charter Communications, Inc., AT&T Inc., Verizon Communications Inc., CenturyLink, Inc., T-Mobile US, Inc., and Sprint Corporation (the “transmission and distribution subgroup”); and Walt Disney Company, Viacom Inc. (Class B), Twenty-First Century Fox, Inc. (Class A), Discovery, Inc. (Class A), and CBS Corporation (Class B) (the “media subgroup”). T-Mobile US, Inc. and Discovery, Inc. (Class A) were added to the new peer group index in 2018.

The prior peer group (the “prior peer group index”) consists of our common stock, DISH Network Corporation (Class A), Charter Communications, Inc., AT&T Inc., Verizon Communications Inc., CenturyLink, Inc., and Sprint Corporation (the “transmission and distribution subgroup”); and Time Warner Inc. (which is included through June 14, 2018 when it merged with AT&T Inc.), Walt Disney Company, Viacom Inc. (Class B), Twenty-First Century Fox, Inc. (Class A), and CBS Corporation (Class B) (the “media subgroup”).

Both the prior peer group and new peer group are constructed as a composite peer group in which the transmission and distribution subgroup is weighted 61% and the media subgroup is weighted 39% based on the respective revenue of our Cable Communications and NBCUniversal segments. Sky has been excluded from the revenue amounts used to determine the weighting to the transmission and distribution subgroup and media subgroup based on the timing of the acquisition. The comparison assumes $100 was invested on December 31, 2013 in our Class A common stock and in each of the following indices and assumes the reinvestment of dividends.



Comparison of 5 Year Cumulative Total Return



	2014		2015		2016		2017		2018
Comcast Class A		$113		$112		$140		$164		$143
S&P 500 Stock Index		$114		$115		$129		$157		$150
Prior Peer Group Index		$106		$105		$130		$136		$127
New Peer Group Index		$104		$105		$130		$137		$127

NBCUniversal

NBCUniversal is a wholly owned subsidiary of NBCUniversal Holdings and there is no market for its equity securities.



	32	Comcast 2018 Annual Report on Form 10-K

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