filings.toolsItem 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Our common stock is traded on the New York Stock Exchange under the symbol DVA. The following table sets forth, for the periods indicated, the high and low sales prices for our common stock as reported by the New York Stock Exchange.
| High | Low | |||||||
|---|---|---|---|---|---|---|---|---|
| Year ended December 31, 2016: | ||||||||
| 1st quarter | $ | 74.18 | $ | 61.36 | ||||
| 2nd quarter | 78.00 | 72.31 | ||||||
| 3rd quarter | 78.77 | 62.76 | ||||||
| 4th quarter | 67.44 | 54.50 | ||||||
| Year ended December 31, 2015: | ||||||||
| 1st quarter | $ | 83.04 | $ | 71.89 | ||||
| 2nd quarter | 85.17 | 79.31 | ||||||
| 3rd quarter | 81.89 | 70.12 | ||||||
| 4th quarter | 78.94 | 67.34 |
The closing price of our common stock on January 31, 2017 was $63.75 per share. According to Computershare, our registrar and transfer agent, as of January 31, 2017, there were 9,853 holders of record of our common stock. We have not declared or paid cash dividends to holders of our common stock since 1994. We have no current plans to pay cash dividends and we are restricted from paying dividends under the terms of our senior secured credit facilities and the indentures governing our senior notes. See “Liquidity and capital resources” under “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the notes to our consolidated financial statements.
Stock Repurchases
The following table summarizes our repurchases of our common stock during the fourth quarter of 2016:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(1) | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 1 - October 31, 2016 | 3,367,024 | $ | 63.07 | 3,367,024 | $ | 881.0 | ||||||||||
| November 1 - November 30, 2016 | 3,351,634 | $ | 60.85 | 3,351,634 | $ | 677.1 | ||||||||||
| December 1 - December 31, 2016 | — | — | — | $ | 677.1 | |||||||||||
| Total | 6,718,658 | $ | 61.96 | 6,718,658 | $ | 677.1 |
| (1) | On July 13, 2016, our Board of Directors approved share repurchases in the amount of approximately $1.2 billion. These share repurchases were in addition to the approximately $259 million remaining at that time under our Board of Directors’ prior share repurchase authorization announced in April 2015. We are authorized to make purchases from time to time in the open market or in privately negotiated transactions, depending upon market conditions and other considerations. During the twelve months ended December 31, 2016, we purchased a total of 16,649,090 shares of our common stock for $1.072 billion, or an average price of $64.41. As of December 31, 2016, there was approximately $677 million available under our current Board authorizations for additional share repurchases. We have not repurchased any shares from January 1, 2017 through February 24, 2017. Although these share repurchase authorizations have no expiration dates, we are subject to share repurchase limitations under the terms of the senior secured credit facilities and the indentures governing our senior notes. |
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