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
Our common stock is listed on the New York Stock Exchange, Inc. As of February 16, 2018, there were 60,868 registered holders.
The graph below shows a comparison of the five-year cumulative return assuming $100 invested on December 31, 2012 in our common stock and the subsequent reinvestment of quarterly dividends, the S&P Composite Stock Price Index, the Dow Jones Utilities Index and the S&P Electric Utilities Index.
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||||
| PSEG | $ | 100.00 | $ | 109.35 | $ | 146.73 | $ | 142.46 | $ | 167.57 | $ | 204.11 | ||||||||||||||
| S&P 500 | $ | 100.00 | $ | 132.31 | $ | 150.35 | $ | 152.47 | $ | 170.59 | $ | 207.74 | ||||||||||||||
| DJ Utilities | $ | 100.00 | $ | 112.67 | $ | 147.01 | $ | 142.57 | $ | 168.26 | $ | 190.76 | ||||||||||||||
| S&P Electrics | $ | 100.00 | $ | 113.20 | $ | 145.82 | $ | 138.80 | $ | 161.20 | $ | 180.76 | ||||||||||||||
The following table indicates the high and low sale prices for our common stock and dividends paid for the periods indicated:
| Common Stock | High | Low | Dividend per Share | |||||||||||
| 2017 | ||||||||||||||
| First Quarter | $ | 46.14 | $ | 42.77 | $ | 0.43 | ||||||||
| Second Quarter | $ | 45.94 | $ | 42.47 | $ | 0.43 | ||||||||
| Third Quarter | $ | 47.47 | $ | 41.67 | $ | 0.43 | ||||||||
| Fourth Quarter | $ | 53.28 | $ | 46.05 | $ | 0.43 | ||||||||
| 2016 | ||||||||||||||
| First Quarter | $ | 47.22 | $ | 37.85 | $ | 0.41 | ||||||||
| Second Quarter | $ | 47.41 | $ | 42.77 | $ | 0.41 | ||||||||
| Third Quarter | $ | 46.81 | $ | 41.07 | $ | 0.41 | ||||||||
| Fourth Quarter | $ | 44.29 | $ | 39.28 | $ | 0.41 | ||||||||
On February 20, 2018, our Board of Directors approved a $0.45 per share common stock dividend for the first quarter of 2018. This reflects an indicative annual dividend rate of $1.80 per share. We expect to continue to pay cash dividends on our common stock; however, the declaration and payment of future dividends to holders of our common stock will be at the discretion of the Board of Directors and will depend upon many factors, including our financial condition, earnings, capital requirements of our businesses, alternate investment opportunities, legal requirements, regulatory constraints, industry practice and other factors that the Board of Directors deems relevant.
The following table indicates our common share repurchases in the open market during the fourth quarter of 2017 to satisfy obligations under various equity compensation award grants:
| Three Months Ended December 31, 2017 | Total Number of Shares Purchased | Average Price Paid per Share | |||||||
| October 1-October 31 | — | $ | — | ||||||
| November 1-November 30 | 486,635 | $ | 49.86 | ||||||
| December 1-December 31 | — | $ | — | ||||||
In December 2017, we entered into a share repurchase plan that complies with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, solely with respect to the repurchase of shares to satisfy obligations under equity compensation awards that are expected to vest or be exercised in 2018.
The following table indicates the securities authorized for issuance under equity compensation plans as of December 31, 2017:
| Plan Category | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans | |||||||||
| Long-Term Incentive Plan | 347,900 | $ | 33.49 | 13,771,542 | ||||||||
| Employee Stock Purchase Plan | — | — | 3,174,168 | |||||||||
| Total | 347,900 | $ | 33.49 | 16,945,710 | ||||||||
For additional discussion of specific plans concerning equity-based compensation, see Item 8. Financial Statements and Supplementary Data—Note 18. Stock Based Compensation.
PSE&G
We own all of the common stock of PSE&G. For additional information regarding PSE&G’s ability to continue to pay dividends, see Item 7. MD&A—Liquidity and Capital Resources.
Power
We own all of Power’s outstanding limited liability company membership interests. For additional information regarding Power’s ability to pay dividends, see Item 7. MD&A—Liquidity and Capital Resources.
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