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Item 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.

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As of February 13, 2018, Domino’s Pizza, Inc. had 170,000,000 authorized shares of common stock, par value $0.01 per share, of which 43,018,242 were issued and outstanding. Domino’s Pizza, Inc.’s common stock is traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “DPZ.”

The following table presents the high and low closing prices by quarter for Domino’s Pizza, Inc.’s common stock, as reported by the NYSE, and dividends declared per common share.

2017:HighLowDividends Declared Per Share
First quarter (January 2, 2017 – March 26, 2017)$189.81$158.36$0.46
Second quarter (March 27, 2017 – June 18, 2017)218.15173.750.46
Third quarter (June 19, 2017 – September 10, 2017)218.88178.380.46
Fourth quarter (September 11, 2017 – December 31, 2017)209.44168.710.46
2016:
First quarter (January 4, 2016 – March 27, 2016)$134.39$104.16$0.38
Second quarter (March 28, 2016 – June 19, 2016)140.01118.560.38
Third quarter (June 20, 2016 – September 11, 2016)151.00122.080.38
Fourth quarter (September 12, 2016 – January 1, 2017)172.26149.660.38

Our Board of Directors declared a quarterly dividend of $0.55 per common share on February 14, 2018 payable on March 30, 2018 to shareholders of record at the close of business on March 15, 2018.

We currently anticipate continuing the payment of quarterly cash dividends. The actual amount of such dividends, if any, will depend upon future earnings, results of operations, capital requirements, our financial condition and certain other factors. There can be no assurance as to the amount of free cash flow that we will generate in future years and, accordingly, dividends will be considered after reviewing returns to shareholders, profitability expectations and financing needs and will be declared at the discretion of our Board of Directors.

As of February 13, 2018, there were 1,499 registered holders of record of Domino’s Pizza, Inc.’s common stock.

As of December 31, 2017, we had a Board of Directors-approved share repurchase program for up to $1.25 billion of our common stock, of which $198.5 million remained available for future purchases of our common stock. Any future purchases of our common stock would be funded by current cash amounts, available borrowings or future excess cash flow. The following table summarizes our repurchase activity during the fourth quarter ended December 31, 2017:

PeriodTotal Number of Shares Purchased (1)Average Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced Program (2)Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (in thousands)
Period #10 (September 11, 2017 to October 8, 2017)—$——$250,000
Period #11 (October 9, 2017 to November 5, 2017) (2)799,561191.93797,649223,368
Period #12 (November 6, 2017 to December 3, 2017)140,697178.64139,377198,468
Period #13 (December 4, 2017 to December 31, 2017)1,274183.61—198,468
Total941,532$189.93937,026$198,468
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(1)4,506 shares were purchased as part of the Company’s employee stock purchase discount plan. During the fourth quarter, the shares were purchased at an average price of $190.97.
(2)On July 27, 2017, the Company’s Board of Directors authorized a new share repurchase program to repurchase up to $1.25 billion of the Company’s common stock. This repurchase program replaced the previously existing $250.0 million share repurchase program. On August 2, 2017, the Company entered into a $1.0 billion accelerated share repurchase agreement (the “2017 ASR Agreement”) with a counterparty. In connection with the 2017 ASR Agreement, the Company received and retired a total of 5,218,670 shares of its common stock, including 4,558,863 shares received and retired during the third quarter and 659,807 shares received and retired at final settlement during the fourth quarter.

The average price paid per share of $191.93 for Period #11 (October 9, 2017 to November 5, 2017) includes the 659,807 shares received and retired at final settlement of the 2017 ASR Agreement. The average purchase price per share for the 5,218,670 shares the Company received and retired through the $1.0 billion ASR program was $191.62.

On February 14, 2017, the Company’s Board of Directors authorized a new share repurchase program to repurchase up to $750.0 million of the Company’s common stock. This repurchase program replaces the remaining availability of approximately $198.5 million under the Company’s previously approved $1.25 billion share repurchase program.

The following comparative stock performance line graph compares the cumulative shareholder return on the common stock of Domino’s Pizza, Inc. (NYSE: DPZ) for the five-year period between December 31, 2012 and December 31, 2017, with cumulative total return on (i) the Total Return Index for the New York Stock Exchange (the “NYSE Composite Index”), (ii) the Standard & Poor’s 500 Index (the “S&P 500”) and (iii) the peer group, the Standard & Poor’s 400 Restaurant Index (the “S&P 400 Restaurant Index”). Management believes that the companies included in the S&P 400 Restaurant Index appropriately reflect the scope of the Company’s operations and match the competitive market in which the Company operates. The cumulative total return computations set forth in the performance graph assume the investment of $100 in the Company’s common stock, the NYSE Composite Index, the S&P 500 Index and the S&P 400 Restaurant Index on December 31, 2012.

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