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.
Performance Graph
The graph below compares the cumulative total shareholder return of Altria’s common stock for the last five years with the cumulative total return for the same period of the S&P 500 Index and the S&P Food, Beverage and Tobacco Industry Group Total Return Index. The graph assumes the investment of $100 in common stock and each of the indices as of the market close on December 31, 2016 and the reinvestment of all dividends on a quarterly basis.
| Date | Altria | S&P Food, Beverage & Tobacco | S&P 500 | |||||||||||||||||
| December 2016 | $ | 100.00 | $ | 100.00 | $ | 100.00 | ||||||||||||||
| December 2017 | $ | 109.45 | $ | 112.35 | $ | 121.82 | ||||||||||||||
| December 2018 | $ | 79.80 | $ | 95.59 | $ | 116.47 | ||||||||||||||
| December 2019 | $ | 86.15 | $ | 119.42 | $ | 153.14 | ||||||||||||||
| December 2020 | $ | 77.21 | $ | 126.06 | $ | 181.31 | ||||||||||||||
| December 2021 | $ | 95.94 | $ | 146.45 | $ | 233.36 |
Source: Bloomberg - “Total Return Analysis” calculated on a daily basis and assumes reinvestment of dividends as of the ex-dividend date.
Market and Dividend Information
The principal stock exchange on which Altria’s common stock (par value $0.33 1/3 per share) is listed is the New York Stock Exchange under the trading symbol “MO”. At February 15, 2022, there were approximately 52,000 holders of record of Altria’s common stock.
Altria has a history of paying cash dividends and maintains its dividend payout ratio target of approximately 80% of its adjusted diluted earnings per share. Future dividend payments remain subject to the discretion of the Board of Directors.
Issuer Purchases of Equity Securities During the Quarter Ended December 31, 2021
In January 2021, the Board of Directors authorized a $2.0 billion share repurchase program that it expanded to $3.5 billion in October 2021 (as expanded, the “January 2021 share repurchase program”), which Altria expects to complete by December 31, 2022. The timing of share repurchases under this program depends upon marketplace conditions and other factors, and the program remains subject to the discretion of the Board.
Altria’s share repurchase activity for each of the three months in the period ended December 31, 2021, was as follows:
| Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | ||||||||||||||||||||||
| October 1- October 31, 2021 | 2,299,678 | $ | 47.49 | 2,299,435 | $ | 2,418,402,110 | ||||||||||||||||||||
| November 1- November 30, 2021 | 6,626,237 | $ | 44.58 | 6,625,750 | $ | 2,123,017,842 | ||||||||||||||||||||
| December 1- December 31, 2021 | 6,547,494 | $ | 45.51 | 6,545,903 | $ | 1,825,142,753 | ||||||||||||||||||||
| For the Quarter Ended December 31, 2021 | 15,473,409 | $ | 45.40 | 15,471,088 |
(1) The total number of shares purchased includes (a) shares purchased under the January 2021 share repurchase program and (b) shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees (which totaled 243 shares in October, 487 shares in November and 1,591 shares in December).
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