Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

7K characters. Original on sec.gov · Markdown

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Price of Common Stock

Our common stock is listed and traded on the New York Stock Exchange. The following table sets forth the high and low per share closing sale prices for our common stock on that exchange for each quarter in fiscal years 2014 and 2013.



	2014 Fiscal Quarters
	First		Second		Third		Fourth
High		$46.21		$47.52		$48.25		$45.76
Low	40.94		41.97		43.51		39.83

	2013 Fiscal Quarters
	First		Second		Third		Fourth
High		$35.86		$34.95		$38.63		$41.18
Low	31.74		30.35		32.39		36.33

As of February 19, 2015, we had approximately 4,529 holders of record of our common stock.

Stock Repurchase Program

The following table provides information with respect to the shares of common stock repurchased by us for the periods indicated.



	Issuer Repurchases of Equity Securities
Period	Total Number of Shares Purchased(1)(2)	Average Price Paid Per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
September 29, 2014—October 26, 2014	98	40.40	—	8,000,000
October 27, 2014—November 23, 2014	600,343	44.15	600,000	7,400,000
November 24, 2014—December 28, 2014	54	40.95	—	7,400,000
Activity for quarter ended December 28, 2014	600,495	44.15	600,000	7,400,000


(1)	On October 24, 2012, our Board of Directors (our "Board") authorized us to repurchase up to 6.0 million shares of common stock under a stock repurchase program (the "Repurchase Program"). The Repurchase Program expired on October 24, 2014. On October 23, 2014, our Board authorized us to repurchase up to 8.0 million shares of common stock under a new stock repurchase program (the "New Repurchase Program"). The New Repurchase Program will expire on October 23, 2016 unless terminated earlier by our Board, and may be suspended or discontinued at any time. During the fourth quarter of fiscal year 2014, we repurchased 0.6 million shares of common stock in the open market at an aggregate cost of $26.5 million, including commissions, under the New Repurchase Program. As of December 28, 2014, approximately 7.4 million shares authorized by our Board under the New Repurchase Program remained available for repurchase. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.

(1)

On October 24, 2012, our Board of Directors (our "Board") authorized us to repurchase up to 6.0 million shares of common stock under a stock repurchase program (the "Repurchase Program"). The Repurchase Program expired on October 24, 2014. On October 23, 2014, our Board authorized us to repurchase up to 8.0 million shares of common stock under a new stock repurchase program (the "New Repurchase Program"). The New Repurchase Program will expire on October 23, 2016 unless terminated earlier by our Board, and may be suspended or discontinued at any time. During the fourth quarter of fiscal year 2014, we repurchased 0.6 million shares of common stock in the open market at an aggregate cost of $26.5 million, including commissions, under the New Repurchase Program. As of December 28, 2014, approximately 7.4 million shares authorized by our Board under the New Repurchase Program remained available for repurchase. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.


(2)	Our Board has authorized us to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to our equity incentive plans. During the fourth quarter of fiscal year 2014, we repurchased 495 shares of common stock for this purpose. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.

(2)

Our Board has authorized us to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to our equity incentive plans. During the fourth quarter of fiscal year 2014, we repurchased 495 shares of common stock for this purpose. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.

Dividends

During fiscal years 2014 and 2013, we declared regular quarterly cash dividends on our common stock. The table below sets forth the cash dividends per share that we declared on our common stock during each of those fiscal years, by quarter.



	2014 Fiscal Quarters											2014 Total
First			Second			Third			Fourth
Cash dividends declared per common share	$	0.07		$	0.07		$	0.07		$	0.07	$	0.28

	2013 Fiscal Quarters											2013 Total
	First			Second			Third			Fourth
Cash dividends declared per common share	$	0.07		$	0.07		$	0.07		$	0.07	$	0.28

While it is our current intention to pay regular quarterly cash dividends, any decision to pay future cash dividends will be made by our Board and will depend on our earnings, financial condition and other factors. Our Board may reduce or eliminate our common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources. For further information related to our stockholders’ equity, see Note 19 to our consolidated financial statements included in this annual report on Form 10-K.

Stock Performance Graph

Set forth below is a line graph comparing the cumulative total shareholder return on our common stock against the cumulative total return of the S&P Composite-500 Index and a Peer Group Index for the five fiscal years from January 3, 2010 to December 28, 2014. Our Peer Group Index consists of Affymetrix, Inc., Agilent Technologies Inc., Thermo Fisher Scientific Inc., and Waters Corporation. The peer group is the same as the peer group used in the stock performance graph in our Annual Report on Form 10-K for fiscal year ended December 29, 2014, except that it does not include Life Technologies Corporation, which has been excluded due to its acquisition by Thermo Fisher Scientific Inc.

Comparison of Five-Year Cumulative Total Return

PerkinElmer, Inc. Common Stock, S&P Composite-500 and

Peer Group Index

TOTAL RETURN TO SHAREHOLDERS

(Includes reinvestment of dividends)



	03-Jan-10		02-Jan-11		01-Jan-12		30-Dec-12		29-Dec-13		28-Dec-14
PerkinElmer, Inc.	$	100.00	$	127.04	$	99.57	$	156.15	$	208.92	$	225.03
S&P 500 Index	$	100.00	$	115.06	$	117.49	$	136.30	$	180.44	$	205.14
Peer Group	$	100.00	$	122.35	$	103.41	$	131.71	$	206.88	$	231.54

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