filings.toolsItem 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock is traded on the New York Stock Exchange (NYSE) under the symbol “FLT”. As of December 31, 2016, there were 102 holders of record of our common stock. The table set forth below provides the intraday high and low sales prices per share of our common stock for the four quarters during 2016 and 2015.
| High | Low | |||||||
| 2016: | ||||||||
| First Quarter | $ | 150.25 | $ | 107.56 | ||||
| Second Quarter | 156.58 | 133.64 | ||||||
| Third Quarter | 174.84 | 137.26 | ||||||
| Fourth Quarter | 176.42 | 140.75 | ||||||
| 2015: | ||||||||
| First Quarter | $ | 158.45 | $ | 135.73 | ||||
| Second Quarter | 165.67 | 149.75 | ||||||
| Third Quarter | 164.61 | 135.16 | ||||||
| Fourth Quarter | 157.97 | 134.55 |
DIVIDENDS AND SHARE REPURCHASES
We currently expect to retain all future earnings, if any, for use in the operation and expansion of our business. We have never declared or paid any dividends on our common stock and do not anticipate paying cash dividends to holders of our common stock in the foreseeable future. In addition, our credit agreements restrict our ability to pay dividends. Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend upon, among other factors, our results of operations, financial condition, capital requirements and covenants in our existing financing arrangements and any future financing arrangements.
On February 4, 2016, the Company’s Board of Directors approved a stock repurchase program (the "Program") under which the Company may begin purchasing up to $500 million of its common stock over the next 18 month period. Any stock repurchases may be made at times and in such amounts as deemed appropriate. The timing and amount of stock repurchases, if any, will depend on a variety of factors including the stock price, market conditions, corporate and regulatory requirements, and any additional constraints related to material inside information the Company may possess. Any repurchases have been and are expected to be funded by available cash flow from the business and working capital. There were 1,259,145 common shares totaling $187.7 million repurchased under the Program during 2016. The following table presents information with respect to purchases of common stock of the Company made during the three months ended December 31, 2016 by the Company as defined in Rule 10b-18(a)(3) under the Exchange Act:
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of the Publicly Announced Plan | Maximum Value that May Yet be Purchased Under the Publicly Announced Plan (in thousands) | ||||||||||
| October 1, 2016 through December 31, 2016 | 1,000,000 | $ | 152.17 | 1,259,145 | $ | 312,348 |
PERFORMANCE GRAPH
The following graph assumes $100 invested on December 15, 2010 (the date our shares first commenced trading), at the closing price ($27.25) of our common stock on that day, and compares (a) the percentage change of our cumulative total stockholder return on the common stock (as measured by dividing (i) the difference between our share price at the end and the beginning of the period presented by (ii) the share price at the beginning of the periods presented) with (b) (i) the Russell 2000 Index and (ii) the S&P 500® Data Processing & Outsourced Services.
| Period Ending | FleetCor Technologies, Inc. | Russell 2000 | S&P Data Processing and Outsourced Services | |||||||||
| 12/15/2010 | $ | 100.00 | $ | 100.00 | $ | 100.00 | ||||||
| 12/31/2010 | $ | 113.03 | $ | 102.78 | $ | 95.88 | ||||||
| 3/31/2011 | $ | 119.85 | $ | 109.79 | $ | 103.77 | ||||||
| 6/30/2011 | $ | 108.37 | $ | 106.71 | $ | 110.66 | ||||||
| 9/30/2011 | $ | 96.37 | $ | 83.84 | $ | 101.70 | ||||||
| 12/31/2011 | $ | 109.61 | $ | 96.43 | $ | 117.85 | ||||||
| 3/31/2012 | $ | 142.28 | $ | 108.06 | $ | 131.46 | ||||||
| 6/30/2012 | $ | 128.59 | $ | 103.92 | $ | 134.19 | ||||||
| 9/30/2012 | $ | 164.40 | $ | 108.99 | $ | 142.49 | ||||||
| 12/31/2012 | $ | 196.88 | $ | 110.54 | $ | 150.85 | ||||||
| 3/31/2013 | $ | 281.36 | $ | 123.84 | $ | 169.26 | ||||||
| 6/30/2013 | $ | 298.35 | $ | 127.22 | $ | 179.29 | ||||||
| 9/30/2013 | $ | 404.26 | $ | 139.75 | $ | 196.49 | ||||||
| 12/31/2013 | $ | 429.98 | $ | 151.44 | $ | 228.94 | ||||||
| 3/31/2014 | $ | 422.39 | $ | 152.67 | $ | 217.93 | ||||||
| 6/30/2014 | $ | 483.67 | $ | 155.26 | $ | 218.52 | ||||||
| 9/30/2014 | $ | 521.54 | $ | 143.38 | $ | 221.34 | ||||||
| 12/31/2014 | $ | 545.72 | $ | 156.79 | $ | 256.74 | ||||||
| 3/31/2015 | $ | 553.83 | $ | 163.04 | $ | 262.43 | ||||||
| 6/30/2015 | $ | 572.70 | $ | 163.20 | $ | 265.08 | ||||||
| 9/30/2015 | $ | 505.03 | $ | 143.25 | $ | 260.96 | ||||||
| 12/31/2015 | $ | 524.51 | $ | 147.83 | $ | 283.80 | ||||||
| 3/30/2016 | $ | 545.87 | $ | 144.99 | $ | 284.49 | ||||||
| 6/30/2016 | $ | 525.25 | $ | 149.92 | $ | 279.08 | ||||||
| 9/30/2016 | $ | 637.54 | $ | 162.90 | $ | 301.21 | ||||||
| 12/31/2016 | $ | 519.34 | $ | 176.63 | $ | 300.42 |
RECENT SALES OF UNREGISTERED SECURITIES AND USE OF PROCEEDS
Not Applicable.
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