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.
The Common Stock of the Company is listed on the New York Stock Exchange and is traded on the Philadelphia, Chicago and Boston Exchanges under the symbol ROL. The high and low prices of the Company’s common stock and dividends paid for each quarter in the years ended December 31, 2015 and 2014, with all share and per share data adjusted for the Company’s three-for-two stock split effective March 10, 2015, were as follows:
STOCK PRICES AND DIVIDENDS Rounded to the nearest $.01
| Dividends | Dividends | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Price | Paid | Stock Price | Paid | |||||||||||||||||||||||
| 2015 | High | Low | Per Share | 2014 | High | Low | Per Share | |||||||||||||||||||
| First Quarter | $ | 25.00 | $ | 21.11 | $ | 0.08 | First Quarter | $ | 20.47 | $ | 18.01 | $ | 0.07 | |||||||||||||
| Second Quarter | $ | 29.00 | $ | 23.88 | $ | 0.08 | Second Quarter | $ | 20.99 | $ | 19.55 | $ | 0.07 | |||||||||||||
| Third Quarter | $ | 30.42 | $ | 25.76 | $ | 0.08 | Third Quarter | $ | 20.41 | $ | 18.65 | $ | 0.07 | |||||||||||||
| Fourth Quarter | $ | 28.40 | $ | 25.51 | $ | 0.18 | Fourth Quarter | $ | 22.62 | $ | 18.41 | $ | 0.14 |
As of January 31, 2016, there were 2,322 holders of record of the Company’s common stock. However, a large number of our shareholders hold their shares in “street name” in brokerage accounts and, therefore, do not appear on the shareholder list maintained by our transfer agent.
On January 27, 2015, the Board of Directors at its quarterly meeting authorized a three-for-two stock split of the Company’s common shares by the issuance on March 10, 2015 of one additional common share for each two common shares held of record at February 10, 2015. The stock split increased the Company’s outstanding shares from 145,783,052 to 218,674,578 shares.
On January 26, 2016 the Board of Directors approved a quarterly cash dividend per common share of $0.10 payable March 10, 2016 to stockholders of record at the close of business February 10, 2016. On October 27, 2015, the Board of Directors declared its regular $0.08 per share as well as a special year-end dividend of $0.10 per share both payable December 10, 2015 to stockholders of record at the close of business November 10, 2015. The Company expects to continue to pay cash dividends to the common stockholders, subject to the earnings and financial condition of the Company and other relevant factors.
Issuer Purchases of Equity Securities
During the years ended December 31, 2015 and 2014, the Company repurchased on the open market 19 thousand shares and 1.5 million shares at a weighted average price of $22.42 and $19.46, respectively. In total, there remain 5.9 million additional shares authorized to be repurchased under prior Board approval. The repurchase program does not have an expiration date.
| Period | Total Number of Shares Purchased (1) | Weighted Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans (2) | Maximum Number of Shares that May Yet Be Purchased Under the Repurchase Plans | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 1 to 31, 2015 | — | $ | — | — | 5,928,307 | ||||||||||||
| November 1 to 30, 2015 | — | — | — | 5,928,307 | |||||||||||||
| December 1 to 31, 2015 | — | — | — | 5,928,307 | |||||||||||||
| Total | — | $ | — | — | 5,928,307 |
| (1) | Includes repurchases from employees for the payment of taxes on vesting of restricted shares in the following amounts: October 2015: 0; November 2015: 0; and December 2015: 0. |
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| (2) | The Company has a share repurchase plan adopted in 2012, to repurchase up to 7.5 million shares of the Company’s common stock. The plan has no expiration date. |
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PERFORMANCE GRAPH
The following graph sets forth a five year comparison of the cumulative total stockholder return based on the performance of the stock of the Company as compared with both a broad equity market index and an industry index. The indices included in the following graph are the S&P 500 Index and the S&P 500 Commercial Services Index.
COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN*
Rollins, Inc., S&P 500 Index and peer group composite index
| Cumulative Total Shareholder Return $ at Fiscal Year End | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rollins, Inc. | 100.00 | 114.20 | 115.41 | 161.40 | 179.51 | 214.13 | ||||||||||||||||||
| S&P 500 | 100.00 | 102.11 | 118.45 | 156.82 | 178.28 | 180.75 | ||||||||||||||||||
| Peer Index | 100.00 | 112.08 | 143.16 | 187.21 | 209.68 | 228.61 |
ASSUMES INITIAL INVESTMENT OF $100
*TOTAL RETURN ASSUMES REINVESTMENT OF DIVIDENDS
NOTE: TOTAL RETURNS BASED ON MARKET CAPITALIZATION
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