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
Market Information Shares of our common stock are publicly traded on the New York Stock Exchange. The following table summarizes the quarterly price ranges of our common stock based on high and low prices from intraday trades on the New York Stock Exchange:
| Years Ended December 31, | |||||||||||||||
| 2017 | 2016 | ||||||||||||||
| High | Low | High | Low | ||||||||||||
| First quarter | $ | 38.55 | $ | 33.79 | $ | 33.54 | $ | 26.69 | |||||||
| Second quarter | $ | 35.40 | $ | 31.92 | $ | 33.41 | $ | 27.34 | |||||||
| Third quarter | $ | 40.69 | $ | 34.45 | $ | 32.87 | $ | 27.52 | |||||||
| Fourth quarter | $ | 46.76 | $ | 40.70 | $ | 37.74 | $ | 30.21 |
Holders At January 30, 2018 we had 1.4 billion issued and outstanding shares of common stock held by 511 holders of record.
Dividends Our Board of Directors began declaring quarterly dividends on our common stock in the three months ended March 31, 2014. It is anticipated that dividends on our common stock will continue to be declared and paid quarterly. However the declaration of any dividend on our common stock is a matter to be acted upon by our Board of Directors in its sole discretion. Any dividend will be paid out of funds legally available for that purpose. Our payment of dividends in the future, as described further in "Liquidity and Capital Resources" in MD&A, will depend on business conditions, our financial condition, earnings, liquidity and capital requirements and other factors. Refer to Item 6. Selected Financial Data for cash dividends declared on our common stock for the years ended December 31, 2017, 2016 and 2015.
Purchases of Equity Securities The following table summarizes our purchases of common stock in the three months ended December 31, 2017:
| Total Number of Shares Purchased(a) | Weighted Average Price Paid per Share | Total Number of Shares Purchased Under Announced Programs(b) | Approximate Dollar Value of Shares That May Yet be Purchased Under Announced Programs | ||||||||
| October 1, 2017 through October 31, 2017 | 16,530,750 | $ | 44.72 | 16,381,375 | $4.3 billion | ||||||
| November 1, 2017 through November 30, 2017 | 18,779,333 | $ | 43.53 | 16,141,363 | $3.6 billion | ||||||
| December 1, 2017 through December 31, 2017 | 1,631,403 | $ | 42.97 | 1,550,706 | $3.5 billion | ||||||
| Total | 36,941,486 | $ | 44.04 | 34,073,444 |
| (a) | Shares purchased include authorized shares that were a part of our stock repurchase plan. In addition, shares purchased consist of shares retained by us for the payment of the exercise price upon the exercise of warrants and shares delivered by employees or directors to us for the payment of taxes resulting from issuance of common stock upon the vesting of Restricted Stock Units (RSUs), Performance Stock Units (PSUs) and Restricted Stock Awards (RSAs) relating to compensation plans. In June 2017 our shareholders approved the 2017 Long Term Incentive Plan which authorizes awards of stock options, stock appreciation rights, RSAs, RSUs, PSUs or other stock-based awards to selected employees, consultants, advisors, and non-employee Directors of the Company. Refer to Note 22 to our consolidated financial statements for additional details on employee stock incentive plans and Note 20 to our consolidated financial statements for additional details on warrants outstanding. |
| (b) | In January 2017 we announced that our Board of Directors had authorized the purchase of up to an additional $5 billion of our common stock with no expiration date. |
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