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
News Corporation’s Class A Common Stock and Class B Common Stock are listed and traded on The Nasdaq Global Select Market (“Nasdaq”), its principal market, under the symbols “NWSA” and “NWS,” respectively. CHESS Depositary Interests (“CDIs”) representing the Company’s Class A Common Stock and Class B Common Stock are listed and traded on the Australian Securities Exchange (“ASX”) under the symbols “NWSLV” and “NWS,” respectively. As of August 2, 2024, there were approximately 13,600 holders of record of shares of Class A Common Stock and 300 holders of record of shares of Class B Common Stock.
Dividends
For information regarding dividends, see Note 12—Stockholders' Equity in the accompanying Consolidated Financial Statements.
Issuer Purchases of Equity Securities
On September 22, 2021, the Company announced a stock repurchase program authorizing the Company to purchase up to $1 billion in the aggregate of the Company’s outstanding Class A Common Stock and Class B Common Stock (the “Repurchase Program”). The manner, timing, number and share price of any repurchases will be determined by the Company at its discretion and will depend upon such factors as the market price of the stock, general market conditions, applicable securities laws, alternative investment opportunities and other factors. The Repurchase Program has no time limit and may be modified, suspended or discontinued at any time. The remaining authorized amount under the Repurchase Program as of June 30, 2024 was approximately $460 million.
Stock repurchases under the Repurchase Program commenced on November 9, 2021. The following table summarizes the shares repurchased and subsequently retired and the related consideration paid during the fiscal years ended June 30, 2024, 2023 and 2022:
| For the fiscal years ended June 30, | |||||||||||||||||||||||||||||||||||
| 2024 | 2023 | 2022 | |||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||
| Class A Common Stock | 3.4 | $ | 79 | 9.5 | $ | 159 | 5.8 | $ | 122 | ||||||||||||||||||||||||||
| Class B Common Stock | 1.6 | 38 | 4.7 | 81 | 2.9 | 61 | |||||||||||||||||||||||||||||
| Total | 5.0 | $ | 117 | 14.2 | $ | 240 | 8.7 | $ | 183 |
The following table details the Company’s monthly share repurchases during the three months ended June 30, 2024:
| Total Number of Shares Purchased - Class A**(a)** | Total Number of Shares Purchased - Class B**(a)** | Average Price Paid Per Share - Class A**(b)** | Average Price Paid Per Share - Class B**(b)** | Total Number of Shares Purchased as Part of Publicly Announced Program | Dollar Value of Shares That May Yet Be Purchased Under Publicly Announced Program**(b)** | ||||||||||||||||||||||||||||||
| (in millions, except per share amounts) | |||||||||||||||||||||||||||||||||||
| April 1, 2024 - April 28, 2024 | 0.3 | 0.2 | $ | 24.85 | $ | 25.62 | 0.5 | $ | 484 | ||||||||||||||||||||||||||
| April 29, 2024 - June 2, 2024 | 0.3 | 0.2 | $ | 25.37 | $ | 26.16 | 0.5 | $ | 471 | ||||||||||||||||||||||||||
| June 3, 2024 - June 30, 2024 | 0.3 | 0.1 | $ | 27.33 | $ | 28.01 | 0.4 | $ | 460 | ||||||||||||||||||||||||||
| Total | 0.9 | 0.5 | $ | 25.76 | $ | 26.51 | 1.4 |
(a)The Company has not made any repurchases of Common Stock other than in connection with the publicly announced stock repurchase program described above.
(b)Amounts exclude taxes, fees, commissions or other costs associated with the repurchases.
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