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
Our common stock is traded on the NASDAQ Global Select Market tier of the NASDAQ Stock Market, or NASDAQ, under the symbol HSIC. On October 2, 2007, our common stock became a component of the NASDAQ-100 stock market index. The following table sets forth, for the periods indicated, the high and low reported sales prices of our common stock as reported on NASDAQ for each quarterly period in fiscal 2016 and 2015:
| High | Low | |||||
|---|---|---|---|---|---|---|
| Fiscal 2016: | ||||||
| 1st Quarter .................................................................................................................................................................. | $ | 170.24 | $ | 142.64 | ||
| 2nd Quarter ................................................................................................................................................................. | 180.98 | 165.16 | ||||
| 3rd Quarter .................................................................................................................................................................. | 183.00 | 158.53 | ||||
| 4th Quarter .................................................................................................................................................................. | 164.48 | 146.23 | ||||
| Fiscal 2015: | ||||||
| 1st Quarter .................................................................................................................................................................. | $ | 143.89 | $ | 133.77 | ||
| 2nd Quarter ................................................................................................................................................................. | 146.45 | 135.80 | ||||
| 3rd Quarter .................................................................................................................................................................. | 149.95 | 126.17 | ||||
| 4th Quarter .................................................................................................................................................................. | 160.00 | 127.16 |
On February 16, 2017, there were approximately 450 holders of record of our common stock and the last reported sales price was $167.25.
Purchases of Equity Securities by the Issuer
Our share repurchase program, announced on June 21, 2004, originally allowed us to repurchase up to $100 million of shares of our common stock, which represented approximately 3.5% of the shares outstanding at the commencement of the program. As summarized in the table below, subsequent additional increases totaling $2.4 billion, authorized by our Board of Directors, to the repurchase program provide for a total of $2.5 billion of shares of our common stock to be repurchased under this program.
| Date of | Amount of Additional | ||||
|---|---|---|---|---|---|
| Authorization | Repurchases Authorized | ||||
| October 31, 2005 | $ | 100,000,000 | |||
| March 28, 2007 | 100,000,000 | ||||
| November 16, 2010 | 100,000,000 | ||||
| August 18, 2011 | 200,000,000 | ||||
| April 18, 2012 | 200,000,000 | ||||
| November 12, 2012 | 300,000,000 | ||||
| December 9, 2013 | 300,000,000 | ||||
| December 4, 2014 | 300,000,000 | ||||
| November 30, 2015 | 400,000,000 | ||||
| October 18, 2016 | 400,000,000 |
As of December 31, 2016, we had repurchased approximately $2.2 billion of common stock (24,903,293 shares) under these initiatives, with $250 million available for future common stock share repurchases.
The following table summarizes repurchases of our common stock under our stock repurchase program during the fiscal quarter ended December 31, 2016:
| Total Number | Maximum Number | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Total | of Shares | of Shares | ||||||||
| Number | Average | Purchased as Part | that May Yet | |||||||
| of Shares | Price Paid | of Our Publicly | Be Purchased Under | |||||||
| Fiscal Month | Purchased (1) | Per Share | Announced Program | Our Program (2) | ||||||
| 09/25/16 through 10/29/16 | 310,311 | $ | 153.44 | 310,311 | 2,695,108 | |||||
| 10/30/16 through 11/26/16 | 971,031 | 156.95 | 971,031 | 1,653,658 | ||||||
| 11/27/16 through 12/31/16 | - | 1,647,881 | ||||||||
| 1,281,342 | 1,281,342 | |||||||||
| (1) | All repurchases were executed in the open market under our existing publicly announced authorized program. | |||||||||
| (2) | The maximum number of shares that may yet be purchased under this program is determined at the end of each month based on the | |||||||||
| closing price of our common stock at that time. |
Dividend Policy
We have not declared any cash or stock dividends on our common stock during fiscal years 2016 or 2015. We currently do not anticipate declaring any cash or stock dividends on our common stock in the foreseeable future. We intend to retain earnings to finance the expansion of our business and for general corporate purposes, including our share repurchase program. Any declaration of dividends will be at the discretion of our Board of Directors and will depend upon the earnings, financial condition, capital requirements, level of indebtedness, contractual restrictions with respect to payment of dividends and other factors.
Stock Performance Graph
The graph below compares the cumulative total stockholder return on $100 invested, assuming the reinvestment of all dividends, on December 31, 2011, the last trading day before the beginning of our 2012 fiscal year, through the end of our 2016 fiscal year with the cumulative total return on $100 invested for the same period in the Dow Jones U.S. Health Care Index and the NASDAQ Stock Market Composite Index.
COMPARISON OF 5-YEAR CUMULATIVE TOTAL RETURN
| ASSUMES $100 INVESTED ON DECEMBER 31, 2011 | ||||||||||||||||||
| ASSUMES DIVIDENDS REINVESTED | ||||||||||||||||||
| December 31, | December 29, | December 28, | December 27, | December 26, | December 31, | |||||||||||||
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||
| Henry Schein, Inc. ................................................................................................................................................................ | $ | 100.00 | $ | 124.10 | $ | 177.60 | $ | 213.24 | $ | 243.81 | $ | 235.46 | ||||||
| Dow Jones U.S. Health | ||||||||||||||||||
| Care Index ....................................................................................................................................................................... | 100.00 | 117.81 | 168.96 | 215.35 | 228.17 | 221.41 | ||||||||||||
| NASDAQ Stock Market | ||||||||||||||||||
| Composite Index ................................................................................................................................................................ | 100.00 | 115.15 | 163.76 | 191.63 | 203.61 | 219.89 |
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