Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

On December 23, 2015 the Company completed the Reclassification of its dual-class common stock into a single class of Common Stock. Trading in the Class A common stock and Class B common stock ceased after markets closed on December 23, 2015 and trading in the Company's single class of Common Stock commenced on the New York Stock Exchange ("NYSE") on December 24, 2015. The Company’s Common Stock is principally traded on the NYSE. Prior to the Reclassification the Company's Class A common stock traded under the symbol “HUB.A” and the Company's Class B common stock traded under the symbol “HUB.B”. The Common Stock, resulting from the Reclassification, trades under the symbol "HUBB". See Note 15 — Capital Stock in the Notes to Consolidated Financial Statements for more information about the Reclassification.

The information required by Item 5 with respect to securities authorized for issuance under equity compensation plans is incorporated herein by reference to Part III, Item 12 of this Form 10-K.

The following tables provide information on market prices, dividends declared, number of common shareholders, and repurchases by the Company of shares of its Class A common stock, Class B common stock, and the Common Stock resulting from the Reclassification.

Our dividends are declared at the discretion of our Board of Directors. In October 2016, the Company’s Board of Directors approved an increase in the common stock dividend rate from $0.63 to $0.70 per share per quarter. The increased quarterly dividend payment commenced with the December 15, 2016 payment made to the shareholders of record on November 30, 2016.

Purchases of Equity Securities

As of December 31, 2015, we had $141.4 million of remaining share repurchase authorization under the share repurchase program authorized by our Board of Directors on October 21, 2014 (the "October 2014 program") and $250 million of remaining share repurchase authorization under the share repurchase program authorized by our Board of Directors on August 23, 2015 (the "August 2015 program"), for a total remaining share repurchase authorization of $391.4 million. In 2016, the Company repurchased shares for an aggregate purchase price of $237.8 million. As a result, as of December 31, 2016, our remaining share repurchase authorization was $153.6 million. Our remaining share repurchase authorization expires in October 2017. Subject to numerous factors, including market conditions and alternative uses of cash, we may conduct discretionary repurchases through open market or privately negotiated transactions, which may include repurchases under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended.

The following table summarizes the Company's repurchase activity of Common Stock during the quarter ended December 31, 2016:

Corporate Performance Graph

The following graph compares the total return to shareholders on the Company’s common stock during the five years ended December 31, 2016, with a cumulative total return on the (i) Standard & Poor’s MidCap 400 (“S&P MidCap 400”), (ii) The Weighted Average of Hubbell Class A and Class B common stock, and (ii) the Dow Jones U.S. Electrical Components & Equipment Index (“DJUSEC”). The Company is a member of the S&P MidCap 400. As of December 31, 2016, the DJUSEC reflects a group of fourteen company stocks in the electrical components and equipment market segment, and serves as the Company’s peer group for purposes of this graph. The comparison assumes $100 was invested on December 31, 2011 in the Company’s Common Stock and in each of the foregoing indices and assumes reinvestment of dividends.

COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*

Among Hubbell Incorporated, the S&P Midcap 400 Index, and the Dow Jones US Electrical Components & Equipment Index

The Hubbell Incorporated line above uses the weighted average of Hubbell Class A and Class B shares for the three annual periods from December 2012 through December 2014.