filings.toolsItem 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock is traded on the NASDAQ Global Select Market (NASDAQ) under the symbol “JBHT.” At December 31, 2024, we were authorized to issue up to 1 billion shares of our common stock, and 167.1 million shares were issued. We had 100.6 million and 103.2 million shares outstanding as of December 31, 2024 and 2023 respectively. On February 18, 2025, we had 893 shareholders of record of our common stock.
Dividend Policy
Our dividend policy is subject to review and revision by the Board of Directors, and payments are dependent upon our financial condition, liquidity, earnings, capital requirements, and any other factors the Board of Directors may deem relevant. On January 23, 2025, we announced an increase in our quarterly cash dividend from $0.43 to $0.44 per share, which was paid February 21, 2025, to shareholders of record on February 7, 2025. We currently intend to continue paying cash dividends on a quarterly basis. However, no assurance can be given that future dividends will be paid.
Purchases of Equity Securities
The following table summarizes purchases of our common stock during the three months ended December 31, 2024:
| Period | Total Number of Common Shares Purchased | Average Price Paid Per Common Share Purchased | Total Number of Shares Purchased as Part of a Publicly Announced Plan (1) | Maximum Dollar Amount of Shares That May Yet Be Purchased Under the Plan (in millions) (1) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 1 through October 31, 2024 | 37,247 | $ | 166.21 | 37,247 | $ | 961 | ||||||||||
| November 1 through November 30, 2024 | 52,815 | 181.11 | 52,815 | 951 | ||||||||||||
| December 1 through December 31, 2024 | 398,656 | 175.30 | 398,656 | 882 | ||||||||||||
| Total | 488,718 | $ | 175.24 | 488,718 | $ | 882 |
| (1) | On August 16, 2024, our Board of Directors authorized the purchase of up to $1 billion of our common stock. This stock repurchase program has no expiration date. |
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Stock Performance Graph
The following graph compares the cumulative 5-year total return of shareholders of our common stock with the cumulative total returns of the S&P 500 index, Nasdaq Transportation index, and a customized peer group. The peer group consists of 13 companies: CH Robinson Worldwide Inc, CSX Corp, Expeditors International Of Washington Inc, Hub Group Inc, Knight-Swift Transportation Holdings Inc, Norfolk Southern Corp, Old Dominion Freight Line Inc, Republic Services Inc, Ryder System Inc, Schneider National Inc, Union Pacific Corp, Waste Management Inc and XPO Inc. We have removed Stericycle, Inc. from our peer group as it was acquired by Waste Management, Inc. in November 2024. The graph assumes the value of the investment in our common stock, in the two indexes, and in the peer group (including reinvestment of dividends) was $100 on December 31, 2019 and tracks it through December 31, 2024. The stock price performance included in this graph is not necessarily indicative of future stock price performance.
| Years Ended December 31, | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |||||||||||||||||||
| J.B. Hunt Transport Services, Inc. | $ | 100.00 | $ | 118.10 | $ | 177.90 | $ | 153.12 | $ | 177.00 | $ | 152.66 | ||||||||||||
| S&P 500 | 100.00 | 118.40 | 152.39 | 124.79 | 157.59 | 197.02 | ||||||||||||||||||
| Nasdaq Transportation | 100.00 | 106.29 | 120.41 | 97.55 | 130.87 | 133.76 | ||||||||||||||||||
| Peer Group | 100.00 | 119.84 | 159.21 | 136.89 | 163.47 | 167.78 |
ITEM 6. [Reserved]
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