Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Repurchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Repurchases of Equity Securities
The principal market for Sysco’s common stock (SYY) is the New York Stock Exchange. The table below sets forth the high and low sales prices per share for our common stock as reported on the New York Stock Exchange Composite Tape and the cash dividends declared for the periods indicated.
| Common Stock Prices | Dividends Declared Per Share | ||||||||||
| High | Low | ||||||||||
| Fiscal 2017: | |||||||||||
| First Quarter | $ | 53.97 | $ | 48.70 | $ | 0.31 | |||||
| Second Quarter | 57.07 | 47.14 | 0.33 | ||||||||
| Third Quarter | 55.95 | 49.90 | 0.33 | ||||||||
| Fourth Quarter | 56.10 | 49.22 | 0.33 | ||||||||
| Fiscal 2018: | |||||||||||
| First Quarter | $ | 54.47 | $ | 48.85 | $ | 0.33 | |||||
| Second Quarter | 62.79 | 52.30 | 0.36 | ||||||||
| Third Quarter | 64.27 | 56.01 | 0.36 | ||||||||
| Fourth Quarter | 68.87 | 58.12 | 0.36 |
The number of record owners of Sysco’s common stock as of August 10, 2018 was 9,169.
We currently expect that comparable quarterly cash dividends will continue to be paid in the future; however, future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our Board of Directors.
We made the following share repurchases during the fourth quarter of fiscal 2018:
| ISSUER PURCHASES OF EQUITY SECURITIES | ||||||||||||
| Period | (a) Total Number of Shares Purchased (1) | (b) Average Price Paid per Share | (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | (d) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||
| Month #1 | ||||||||||||
| April 1 – April 28 | 309,951 | $ | 60.65 | 309,951 | — | |||||||
| Month #2 | ||||||||||||
| April 29 – May 26 | 346,365 | 63.33 | 346,365 | — | ||||||||
| Month #3 | ||||||||||||
| May 27 – June 30 | 413,197 | 66.07 | 411,692 | — | ||||||||
| Totals | 1,069,513 | $ | 63.61 | 1,068,008 | — |
| (1) | The total number of shares purchased includes 0, 0, and 1,505 shares tendered by individuals in connection with stock option exercises in month #1, month #2, and month #3, respectively. All other shares were purchased pursuant to the publicly announced program described below. |
In February 2017, our Board of Directors approved a repurchase program authorizing the repurchase of shares of the company’s common stock not to exceed $1.0 billion through the end of fiscal 2019. In November 2017, our Board of Directors approved a repurchase program to authorize the repurchase of the company’s common stock not to exceed $1.5 billion through the end of fiscal 2020. These repurchase programs are intended to allow Sysco to continue offsetting dilution resulting from shares issued under the company’s benefit plans and to make opportunistic repurchases. These share repurchase programs were approved using a dollar value limit and, therefore, are not included in the table above for “Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs.”
We purchased 17,930,114 shares under these plans in fiscal 2018, resulting in a remaining authorization under these programs of approximately $1.5 billion as of June 30, 2018. There were 35,744,589 shares repurchased under our then outstanding plans in fiscal 2017. We purchased approximately 1,344,000 additional shares under these authorizations through August 10, 2018.
The Board of Directors has authorized us to enter into agreements from time to time to extend our ongoing repurchase program to include repurchases during company announced “blackout periods” of such securities in compliance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended (Exchange Act).
Stock Performance Graph
The following performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the Securities and Exchange Commission, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or the Exchange Act, each as amended, except to the extent that Sysco specifically incorporates such information by reference into such filing.
The following stock performance graph compares the performance of Sysco’s Common Stock to the S&P 500 Index and to the S&P 500 Food/Staple Retail Index for Sysco’s last five fiscal years.
The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index, and the S&P 500 Food/Staple Retail Index was $100 on the last trading day of fiscal 2013, and that all dividends were reinvested. Performance data for Sysco, the S&P 500 Index and the S&P 500 Food/Staple Retail Index is provided as of the last trading day of each of our last five fiscal years.

| 6/29/2013 | 6/28/2014 | 6/27/2015 | 7/2/2016 | 7/1/2017 | 6/30/2018 | |||||||
| Sysco Corporation | $100 | $115 | $120 | $164 | $166 | $231 | ||||||
| S&P 500 | 100 | 125 | 136 | 140 | 164 | 188 | ||||||
| S&P 500 Food/Staple Retail Index | 100 | 120 | 143 | 145 | 141 | 152 |
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