filings.toolsItem 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
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The following table shows the market range for our common stock based on reported sales price on the New York Stock Exchange and the dividends declared per share during such periods:
| Period | High | Low | Dividends | |||||||||
| 2014 | ||||||||||||
| First quarter | $ | 20.54 | $ | 17.36 | $ | N/A | ||||||
| Second quarter | 20.72 | 16.95 | 0.06 | (1) | ||||||||
| Third quarter | 20.88 | 17.74 | 0.06 | |||||||||
| Fourth quarter | 20.49 | 16.02 | 0.06 | |||||||||
| 2015 | ||||||||||||
| First quarter | $ | 20.15 | $ | 17.60 | $ | 0.06 | ||||||
| Second quarter | 21.33 | 18.03 | 0.06 | |||||||||
| Third quarter | 20.00 | 16.06 | 0.06 | |||||||||
| Fourth quarter | 21.58 | 18.09 | 0.06 |
| (1) | Dividend declared January 22, 2014 with a record date of May 9, 2014 and a payment date of June 2, 2014. |
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The number of record holders of our common stock at February 22, 2016 was 1,898.
In January 2015, May 2015, August 2015 and November 2015, our Board of Directors declared a quarterly cash dividend of $0.06 per share.
In January 2014, August 2014 and November 2014, our Board of Directors declared a quarterly cash dividend of $0.06 per share.
In January 2015, our Board of Directors cancelled the November 2010 stock repurchase program and authorized a new stock repurchase program for up to $500 million of common stock. The cumulative repurchases as of December 31, 2015 totaled 15.6 million shares of common stock for $300 million at an average price per share of $19.20. In 2016, we intend to repurchase between $100 million and $200 million of common stock.
In November 2010, our Board of Directors authorized a stock repurchase program for up to $200 million. Under the November 2010 program, we repurchased 2.6 million shares of common stock for $31.2 million at an average price of $11.84 per share.
See “Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations,” for information on our equity compensation plans and our performance graph.
Table of Contents
The following table includes information with respect to repurchases we made of our common stock during the quarter ended December 31, 2015 (in thousands except per share price):
| Period | (a) Total Number of Shares (or Units) Purchased | (b) Average Price Paid per Share (or Unit) | (c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | (d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that may Yet Be Purchased Under the Plans or Programs | ||||||||||||
| October 5, 2015 – November 1, 2015 | 1,492 | $ | 18.49 | 1,480 | $ | 245,801 | ||||||||||
| November 2, 2015 – November 29, 2015 | 1,229 | $ | 20.09 | 1,228 | $ | 221,120 | ||||||||||
| November 30, 2015 – December 31, 2015 | 1,031 | $ | 20.48 | 1,029 | $ | 200,051 | ||||||||||
| 3,752 | (1) | $ | 19.56 | (1) | 3,737 | |||||||||||
| (1) | Includes approximately fifteen thousand shares at an average price of $20.25 withheld from employees for the payment of taxes. |
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We satisfy U.S. federal and state minimum withholding tax obligations due upon the vesting and the conversion of restricted stock units into shares of our common stock, by automatically withholding from the shares being issued, a number of shares with an aggregate fair market value on the date of such vesting and conversion that would satisfy the minimum withholding amount due.
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