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
On August 16, 2017, we announced that our Board of Directors approved a two-for-one stock split of our common stock. Each Henry Schein, Inc. stockholder of record at the close of business on September 1, 2017 received a distribution of one additional share for every share held. Trading began on a split-adjusted basis on September 15, 2017.
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.
On February 12, 2019, there were approximately 324 holders of record of our common stock and the last reported sales price was $61.01.
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 $3.2 billion, authorized by our Board of Directors, to the repurchase program provide for a total of $3.3 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 | ||||
| September 15, 2017 | 400,000,000 | ||||
| December 12, 2018 | 400,000,000 |
As of December 29, 2018, we had repurchased approximately $2.9 billion of common stock (58,189,377 shares) under these initiatives, with $400.0 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 29, 2018:
| 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) | ||||||
| 9/30/2018 through 11/3/18 | $ | - | 1,028,543 | |||||||
| 11/04/18 through 12/01/18 | 275,000 | 87.23 | 275,000 | 694,004 | ||||||
| 12/02/18 through 12/29/18 | 722,179 | 85.72 | 722,179 | 5,133,472 | ||||||
| 997,179 | 997,179 | |||||||||
| (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 2018 or 2017. 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 28, 2013, the last trading day before the beginning of our 2014 fiscal year, through the end of our 2018 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 28, 2013 | ||||||||||||||||||
| ASSUMES DIVIDENDS REINVESTED | ||||||||||||||||||
| December 28, | December 27, | December 26, | December 31, | December 30, | December 29, | |||||||||||||
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
| Henry Schein, Inc. ................................................................................................................................................................ | $ | 100.00 | $ | 120.06 | $ | 137.28 | $ | 132.58 | $ | 122.14 | $ | 136.19 | ||||||
| Dow Jones U.S. Health | ||||||||||||||||||
| Care Index ....................................................................................................................................................................... | 100.00 | 127.46 | 135.05 | 131.05 | 160.98 | 168.59 | ||||||||||||
| NASDAQ Stock Market | ||||||||||||||||||
| Composite Index ................................................................................................................................................................ | 100.00 | 117.02 | 124.33 | 134.27 | 174.07 | 167.82 |
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