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
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 2015 and 2014.
| 2015 Fiscal Quarters | |||||||||||||||
| First | Second | Third | Fourth | ||||||||||||
| High | $51.09 | $54.29 | $53.00 | $54.36 | |||||||||||
| Low | 42.66 | 50.30 | 44.45 | 46.74 | |||||||||||
| 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 |
As of February 25, 2016, we had approximately 4,263 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 | ||||||||
| October 5, 2015—November 1, 2015 | 496 | $ | 47.16 | — | 5,900,000 | |||||||
| November 2, 2015—November 29, 2015 | 1,523 | 50.96 | — | 5,900,000 | ||||||||
| November 30, 2015—January 3, 2016 | 3,552 | 50.80 | — | 5,900,000 | ||||||||
| Activity for quarter ended January 3, 2016 | 5,571 | $ | 50.52 | — | 5,900,000 |
| (1) | On October 23, 2014, our Board authorized us to repurchase up to 8.0 million shares of common stock under a stock repurchase program (the "Repurchase Program"). The 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 2015, we did not repurchase shares of common stock in the open market. As of January 3, 2016, 5.9 million shares remained available for repurchase under the Repurchase Program. From January 4, 2016 through February 25, 2016, we repurchased 2.4 million shares of common stock in the open market at an aggregate cost of $109.7 million, including commissions, under the Repurchase Program. |
| (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 and to satisfy obligations related to the exercise of stock options made pursuant to our equity incentive plans. During the fourth quarter of fiscal year 2015, we repurchased 5,571 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 2015 and 2014, 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.
| 2015 Fiscal Quarters | 2015 Total | ||||||||||||||||||
| First | Second | Third | Fourth | ||||||||||||||||
| Cash dividends declared per common share | $ | 0.07 | $ | 0.07 | $ | 0.07 | $ | 0.07 | $ | 0.28 | |||||||||
| 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 |
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 2, 2011 to January 3, 2016. Our Peer Group Index consists of Affymetrix, Inc., Agilent Technologies Inc., Thermo Fisher Scientific Inc., and Waters Corporation.
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)
| 02-Jan-11 | 01-Jan-12 | 30-Dec-12 | 29-Dec-13 | 28-Dec-14 | 3-Jan-16 | ||||||||||||||||||
| PerkinElmer, Inc. | $ | 100.00 | $ | 78.38 | $ | 122.92 | $ | 164.45 | $ | 177.14 | $ | 216.58 | |||||||||||
| S&P 500 Index | $ | 100.00 | $ | 102.11 | $ | 118.45 | $ | 156.82 | $ | 178.29 | $ | 180.75 | |||||||||||
| Peer Group | $ | 100.00 | $ | 84.52 | $ | 107.65 | $ | 169.08 | $ | 189.24 | $ | 209.25 |
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