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 under the symbol “FCX.” At January 29, 2021, there were 11,309 holders of record of our common stock.
Common Stock Dividends
In March 2020, in response to the COVID-19 pandemic and resulting global economic uncertainties, our Board of Directors (the Board) suspended FCX’s quarterly cash dividend of $0.05 per share. In February 2021, the Board reinstated a cash dividend on our common stock at an annual rate of $0.30 per share. The Board intends to declare a quarterly dividend of $0.075 per share, with the initial quarterly dividend expected to be paid on May 3, 2021. The Board also adopted a new financial policy for the allocation of cash flows aligned with our strategic objectives of maintaining a strong balance sheet, increasing cash returns to shareholders and advancing opportunities for future growth. The declaration of dividends is at the discretion of our Board and will depend upon our financial results, cash requirements, future prospects and other factors deemed relevant by our Board. See “Cautionary Statement,” and Notes 8 and 10 for further discussion.
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, 2020:
| 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, 2020 | — | — | — | 23,685,500 | ||||||||||||||||||||||
| November 1-30, 2020 | 109,952 | b | $ | 23.54 | — | 23,685,500 | ||||||||||||||||||||
| December 1-31, 2020 | 145,926 | b | $ | 24.95 | — | 23,685,500 | ||||||||||||||||||||
| Total | 255,878 | $ | 24.35 | — | 23,685,500 |
a.We have a Board-approved open-market share purchase program for up to 30 million shares, which does not have an expiration date.
b.Consists of shares acquired in connection with stock option exercises during the periods shown.
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