filings.toolsItem 5. Market for Registrant's Common Equity,
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Item 5. Market for Registrant's Common Equity,
Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Cintas' common stock is traded on the NASDAQ Global Select Market under the symbol "CTAS." The following table provides the high and low sales prices of shares of Cintas' common stock by quarter during the last two fiscal years:
| Fiscal 2018 | |||||||
| Quarter Ended | High | Low | |||||
| May 2018 | $ | 184.22 | $ | 162.11 | |||
| February 2018 | $ | 172.91 | $ | 147.38 | |||
| November 2017 | $ | 157.81 | $ | 131.75 | |||
| August 2017 | $ | 139.74 | $ | 123.00 | |||
| Fiscal 2017 | |||||||
| Quarter Ended | High | Low | |||||
| May 2017 | $ | 128.85 | $ | 117.21 | |||
| February 2017 | $ | 122.21 | $ | 112.96 | |||
| November 2016 | $ | 119.94 | $ | 102.07 | |||
| August 2016 | $ | 117.69 | $ | 91.24 |
Holders
At May 31, 2018, there were approximately 2,000 shareholders of record of Cintas' common stock. Cintas believes that this represents approximately 106,000 beneficial owners.
Dividends
Dividends on Cintas' outstanding common stock have been paid annually and amounted to $1.62 per share, $1.33 per share and $1.05 per share in fiscal 2018, 2017 and 2016, respectively.
Stock Performance Graph
The following graph summarizes the cumulative return on $100 invested in Cintas' common stock, the S&P 500 Stock Index and the common stocks of a selected peer group of companies. Because our products and services are diverse, Cintas does not believe that any single published industry index is appropriate for comparing shareholder return. Therefore, the peer group used in the performance graph combines publicly traded companies in the business services industry that have similar characteristics as Cintas for each fiscal year, such as route based delivery of products and services. The companies included in the Peer Group are UniFirst Corporation, ABM Industries, Inc. and Rollins, Inc.
Total shareholder return was based on the increase in the price of the common stock and assumed reinvestment of all dividends. Further, total return was weighted according to market capitalization of each company. The companies in the Peer Group are not the same as those considered by the Compensation Committee of the Board of Directors.
Total Shareholder Returns
Comparison of Five-Year Cumulative Total Return
Purchases of Equity Securities by the Issuer and Affiliated Purchases
| Period (In millions, except share and per share data) | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of the publicly announced plan (1) | Maximum approximate dollar value of shares that may yet be purchased under the plan (1) | |||||||||
| March 1 - 31, 2018 (2) | 548 | $ | 169.59 | — | $ | 500.0 | |||||||
| April 1 - 30, 2018 | 203,002 | 171.30 | 203,002 | 465.3 | |||||||||
| May 1 - 31, 2018 (3) | 316,930 | 174.96 | 315,674 | 410.0 | |||||||||
| Total | 520,480 | $ | 173.53 | 518,676 | $ | 410.0 |
| (1) | On August 6, 2016, Cintas announced that the Board of Directors authorized a $500.0 million share buyback program, which does not have an expiration date. From the inception of the August 6, 2016 share buyback program through May 31, 2018, Cintas has purchased a total of 0.5 million shares of Cintas common stock at an average price of $173.51 per share for a total purchase price of $90.0 million. |
(2) During March 2018, Cintas acquired 548 shares of Cintas common stock in satisfaction of employee payroll taxes due on restricted stock awards that vested during the fiscal year. These shares were purchased at an average price of $169.59 per share for a total purchase price of less than $0.1 million.
(3) During May 2018, Cintas acquired 1,256 shares of Cintas common stock in satisfaction of employee payroll taxes due on restricted stock awards that vested during the fiscal year. These shares were purchased at an average price of $180.62 per share for a total purchase price of $0.2 million.
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