filings.toolsItem 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
Listing and Holders of Record
Our common stock is listed on the Nasdaq Select Global Market under the symbol “FANG”. There were 20 holders of record of our common stock on February 13, 2020.
Dividend Policy
On February 13, 2018, we announced the initiation of an annual cash dividend in the amount of $0.50 per share of our common stock payable quarterly which began with the first quarter of 2018. Beginning with the first quarter of 2019, the annual cash dividend was increased to $0.75 per share of our common stock. Additionally, beginning with the fourth quarter of 2019, the annual cash dividend was increased to $1.50 per share of our common stock. The decision to pay any future dividends is solely within the discretion of, and subject to approval by, our board of directors. Our board of directors’ determination with respect to any such dividends, including the record date, the payment date and the actual amount of the dividend, will depend upon our profitability and financial condition, contractual restrictions, restrictions imposed by applicable law and other factors that the board deems relevant at the time of such determination.
Repurchases of Equity Securities
Our common stock repurchase activity for the year ended December 31, 2019 was as follows:
| Period | Total Number of Shares Purchased | Average Price Paid Per Share**(1)** | Total Number of Shares Purchased as Part of Publicly Announced Plan | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan**(2)** | ||||||||
| ($ in millions, except per share amounts, shares in thousands) | ||||||||||||
| January 2019 | 0 | $ | — | 0 | $ | 2,000 | ||||||
| February 2019(3) | 108 | $ | 102.14 | 0 | $ | 2,000 | ||||||
| March 2019(3) | 17 | $ | 102.93 | 0 | $ | 2,000 | ||||||
| April 2019 | 0 | $ | — | 0 | $ | 2,000 | ||||||
| May 2019 | 40 | $ | 100.86 | 40 | $ | 1,996 | ||||||
| June 2019 | 976 | $ | 102.04 | 976 | $ | 1,896 | ||||||
| July 2019 | 995 | $ | 105.56 | 995 | $ | 1,791 | ||||||
| August 2019 | 1,252 | $ | 97.53 | 1,252 | $ | 1,669 | ||||||
| September 2019 | 707 | $ | 97.29 | 707 | $ | 1,600 | ||||||
| October 2019 | 812 | $ | 84.97 | 812 | $ | 1,531 | ||||||
| November 2019 | 994 | $ | 78.16 | 994 | $ | 1,454 | ||||||
| December 2019(4) | 609 | $ | 85.08 | 609 | $ | 1,402 | ||||||
| Total | 6,510 | $ | 93.83 | 6,385 |
| (1) | The average price paid per share is net of any commissions paid to repurchase stock. |
| (2) | In May 2019, our board of directors approved a stock repurchase program to acquire up to $2 billion of our outstanding common stock through December 31, 2020. This repurchase program may be suspended from time to time, modified, extended or discontinued by our board of directors at any time. |
| (3) | Acquired in connection with tax withholdings and payment of exercise price on equity compensation plans. |
| (4) | Includes 108,942 shares that had not settled as of December 31, 2019. |
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