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.
Unregistered Sales of Equity Securities
None.
Common Stock
Our common shares trade on the New York Stock Exchange (NYSE) under the symbol “FCX.” The FCX share price is reported daily in the financial press under “FMCG” in most listings of NYSE securities. The table below shows the NYSE composite tape common share price ranges during 2015 and 2014:
| 2015 | 2014 | |||||||
| High | Low | High | Low | |||||
| First Quarter | $23.72 | $16.43 | $38.09 | $30.38 | ||||
| Second Quarter | $23.97 | $18.11 | $36.51 | $32.35 | ||||
| Third Quarter | $18.84 | $7.76 | $39.32 | $32.29 | ||||
| Fourth Quarter | $14.20 | $6.08 | $32.91 | $20.94 |
At February 19, 2016, there were 14,544 holders of record of our common stock.
Common Stock Dividends
The declaration of dividends is at the discretion of the FCX Board of Directors (the Board) and will depend on our financial results, cash requirements, future prospects and other factors deemed relevant by the Board. In February 2012, the Board authorized an increase in the cash dividend on our common stock to an annual rate of $1.25 per share ($0.3125 per share quarterly). The Board declared a one-time special cash dividend of $0.1105 per share related to the settlement of the shareholder derivative litigation, which was paid in August 2015. In March 2015, the Board reduced the annual common stock dividend to $0.20 per share ($0.05 per share quarterly), and in December 2015, the Board suspended the annual common stock dividend. The Board will review its financial policy on an ongoing basis.
Below is a summary of dividends on FCX common stock for 2015 and 2014:
| 2015 | ||||||
| Per Share Amount | Record Date | Payment Date | ||||
| First Quarter | $0.3125 | 01/15/2015 | 02/02/2015 | |||
| Second Quarter | $0.0500 | 04/15/2015 | 05/01/2015 | |||
| Special Dividend | $0.1105 | 07/15/2015 | 08/03/2015 | |||
| Third Quarter | $0.0500 | 07/15/2015 | 08/03/2015 | |||
| Fourth Quarter | $0.0500 | 10/15/2015 | 11/02/2015 |
| 2014 | ||||||
| Per Share Amount | Record Date | Payment Date | ||||
| First Quarter | $0.3125 | 01/15/2014 | 02/03/2014 | |||
| Second Quarter | $0.3125 | 04/15/2014 | 05/01/2014 | |||
| Third Quarter | $0.3125 | 07/15/2014 | 08/01/2014 | |||
| Fourth Quarter | $0.3125 | 10/15/2014 | 11/03/2014 |
Issuer Purchases of Equity Securities
The following table sets forth information with respect to shares of FCX common stock purchased by us during the three months ended December 31, 2015:
| Period | (a) Total Number of Shares Purchased | (b) Average Price Paid Per Share | (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programsa | (d) Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programsa | |||||||||
| October 1-31, 2015 | — | $ | — | — | 23,685,500 | ||||||||
| November 1-30, 2015 | — | $ | — | — | 23,685,500 | ||||||||
| December 1-31, 2015 | — | $ | — | — | 23,685,500 | ||||||||
| Total | — | $ | — | — | 23,685,500 |
| a. | On July 21, 2008, the Board approved an increase in our open-market share purchase program for up to 30 million shares. The program does not have an expiration date. |
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