Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
5K characters. Original on sec.gov · Markdown
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our Class A common stock is traded on the New York Stock Exchange ("NYSE") under the symbol "RL." The following table sets forth the high and low sales prices per share of our Class A common stock, as reported on the NYSE Composite Tape, and the cash dividends per common share declared for each quarterly period in our two most recent fiscal years:
| Market Price of Class A Common Stock | Dividends Declared per Common Share | |||||||||||
| High | Low | |||||||||||
| Fiscal 2018: | ||||||||||||
| First Quarter | $ | 84.47 | $ | 66.06 | $ | 0.50 | ||||||
| Second Quarter | 92.55 | 70.36 | 0.50 | |||||||||
| Third Quarter | 105.52 | 83.26 | 0.50 | |||||||||
| Fourth Quarter | 119.33 | 100.09 | 0.50 | |||||||||
| Fiscal 2017: | ||||||||||||
| First Quarter | $ | 98.50 | $ | 83.66 | $ | 0.50 | ||||||
| Second Quarter | 109.85 | 87.26 | 0.50 | |||||||||
| Third Quarter | 114.00 | 89.24 | 0.50 | |||||||||
| Fourth Quarter | 93.05 | 75.62 | 0.50 |
Since 2003, we have maintained, and intend to continue to maintain, a regular quarterly cash dividend program on our common stock. However, any decision to declare and pay dividends in the future will be made at the discretion of our Board of Directors and will depend on our results of operations, cash requirements, financial condition, and other factors that the Board of Directors may deem relevant.
As of May 18, 2018, there were 694 holders of record of our Class A common stock and 6 holders of record of our Class B common stock. All of our outstanding shares of Class B common stock are owned by Mr. Ralph Lauren, Executive Chairman and Chief Creative Officer, and entities controlled by the Lauren family. Shares of our Class B common stock may be converted immediately into Class A common stock on a one-for-one basis by the holder. There is no cash or other consideration paid by the holder converting the shares and, accordingly, there is no cash or other consideration received by the Company. The shares of Class A common stock issued by the Company in such conversions are exempt from registration pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended. No shares of our Class B common stock were converted into Class A common stock during the fiscal quarter ended March 31, 2018.
The following table sets forth repurchases of shares of our Class A common stock during the fiscal quarter ended March 31, 2018:
| Total Number of Shares Purchased(a) | 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(b) | |||||||||||
| (millions) | ||||||||||||||
| December 31, 2017 to January 27, 2018 | — | $ | — | — | $ | 100 | ||||||||
| January 28, 2018 to February 24, 2018 | 639 | 116.20 | — | 100 | ||||||||||
| February 25, 2018 to March 31, 2018 | 7,098 | 108.46 | — | 100 | ||||||||||
| 7,737 | — |
| (a) | Represents shares surrendered to or withheld by the Company in satisfaction of withholding taxes in connection with the vesting of awards issued under its long-term stock incentive plans. |
| (b) | Repurchases of shares of Class A common stock are subject to overall business and market conditions. |
| 36 |
The following graph compares the cumulative total stockholder return (stock price appreciation plus dividends) on our Class A common stock to the cumulative total return of the Standard & Poor's 500 Index and a peer group index of companies that we believe are closest to ours (the "Peer Group") for the period from March 30, 2013, the last day of our 2013 fiscal year, through March 31, 2018, the last day of our 2018 fiscal year. Our Peer Group consists of Burberry Group PLC, Compagnie Financière Richemont SA, The Estée Lauder Companies Inc., Hermes International, Kering, Luxottica Group, LVMH, PVH Corp., Tapestry, Inc., Tiffany & Co., Tod's S.p.A., and V.F. Corporation. All calculations for foreign companies in our Peer Group are performed using the local foreign issue of such companies. The returns are calculated by assuming a $100 investment on March 30, 2013 in Class A common stock or March 31, 2013 in an index, with all dividends reinvested.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
Among Ralph Lauren Corporation, the S&P 500 Index, and a Peer Group

Previous: Item 4. Mine Safety Disclosures. · Next: Item 6. Selected Financial Data