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 and Dividends
Our common stock trades on the New York Stock Exchange under the symbol “JBL.” The following table sets forth the high and low intraday sales prices per share for our common stock as reported on the New York Stock Exchange and the cash dividends declared per share for the fiscal periods indicated:
| Sales Price per Share | ||||||||||||||||||||||||
| Fiscal Year 2018 | Fiscal Year 2017 | Dividends per Share(1) | ||||||||||||||||||||||
| High | Low | High | Low | Fiscal Year 2018 | Fiscal Year 2017 | |||||||||||||||||||
| First Quarter | $ | 31.60 | $ | 27.29 | $ | 23.85 | $ | 20.32 | $ | 0.08 | $ | 0.08 | ||||||||||||
| Second Quarter | $ | 29.03 | $ | 23.70 | $ | 26.34 | $ | 20.43 | $ | 0.08 | $ | 0.08 | ||||||||||||
| Third Quarter | $ | 31.77 | $ | 26.16 | $ | 30.00 | $ | 25.69 | $ | 0.08 | $ | 0.08 | ||||||||||||
| Fourth Quarter | $ | 29.92 | $ | 26.39 | $ | 31.70 | $ | 28.27 | $ | 0.08 | $ | 0.08 |
| (1) | See further discussion of our cash dividends declared to common shareholders in Note 11—“Stockholders’ Equity” to the Consolidated Financial Statements. |
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We expect to continue to declare and pay quarterly dividends of an amount similar to our past declarations. However, the declaration and payment of future dividends are discretionary and will be subject to determination by our Board of Directors each quarter following its review of our financial performance.
On October 9, 2018, the closing sales price for our common stock as reported on the New York Stock Exchange was $24.71. As of October 9, 2018, there were 1,380 holders of record of our common stock. A substantially greater number of holders of our common stock are “street name” or beneficial holders, whose shares are held of record by banks, brokers, and other financial institutions.
Information regarding equity compensation plans is incorporated by reference to the information set forth in Item 12 of Part III of this report.
Stock Performance Graph
The performance graph and table show a comparison of cumulative total stockholder return, assuming the reinvestment of dividends, from a $100 investment in the common stock of Jabil over the five-year period ending August 31, 2018, with the cumulative stockholder return of the (1) S&P MidCap 400 Index and (2) peer group which includes Celestica Inc., Catcher Technology Co., Ltd, Flex Ltd., Hon-Hai Precision Industry Co. Ltd, Plexus Corp., and Sanmina Corp.
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Comparison of 5 Year Cumulative Total Return
| August 31 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||
| Jabil Inc. | $ | 100 | $ | 96 | $ | 88 | $ | 97 | $ | 146 | $ | 139 | ||||||||||||
| S&P MidCap 400 Index – Total Returns | 100 | 123 | 123 | 138 | 156 | 187 | ||||||||||||||||||
| Peer Group | 100 | 157 | 138 | 143 | 228 | 172 |
Issuer Purchases of Equity Securities
The following table provides information relating to our repurchase of common stock during the three months ended August 31, 2018:
| Period | Total Number of Shares Purchased(1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Program(2)(3) | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (in thousands) | ||||||||||||
| June 1, 2018 - June 30, 2018 | 1,330,709 | $ | 27.66 | 1,330,128 | $ | 447,037 | ||||||||||
| July 1, 2018 - July 31, 2018 | 1,629,279 | $ | 28.42 | 1,627,406 | $ | 400,795 | ||||||||||
| August 1, 2018 - August 31, 2018 | 1,791,201 | $ | 28.36 | 1,791,201 | $ | 350,000 | ||||||||||
| Total | 4,751,189 | $ | 28.18 | 4,748,735 |
| (1) | The purchases include amounts that are attributable to shares surrendered to us by employees to satisfy, in connection with the vesting of restricted stock awards and the exercise of stock options and stock appreciation rights, their tax withholding obligations. |
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| (2) | In July 2017, our Board of Directors authorized the repurchase of up to $450.0 million of our common stock as publicly announced in a press release issued on July 20, 2017 (the “2017 Share Repurchase Program”). The 2017 Share Repurchase Program expired on August 31, 2018. No authorization remains under the 2017 Share Repurchase Program. |
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| (3) | In June 2018, our Board of Directors authorized the repurchase of up to $350.0 million of our common stock as publicly announced in a press release on June 14, 2018 (the “2018 Share Repurchase Program”). The 2018 Share Repurchase Program expires on August 31, 2019. |
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Issuer Sale of Unregistered Securities
On August 16, 2018, as part of a commercial transaction with a third party, the Company issued a cash settled restricted stock appreciation right. The instrument has a ten-year term and will vest biannually, subject to the satisfaction of performance conditions. Assuming full vesting and exercise at the end of the term, the aggregate amount to be paid by the Company would not in any case exceed $26.0 million. The instrument was issued pursuant to the private placement exemption in Section 4(a)(2) of the Securities Act of 1933, as amended.
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