Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stoc kholder Matters and Issuer Purchases of Equity Securities.
(dollars in millions, except share and per-share amounts)
Shares of the Company’s common stock are listed on the New York Stock Exchange, its principal market, and trade in U.S. dollars under the symbol “AA.” Alcoa Corporation CHESS Depositary Interests (CDIs), each representing one share of the Company’s common stock, are listed on the Australian Stock Exchange and trade in Australian dollars under the symbol “AAI.”
On October 14, 2021, Alcoa Corporation announced the initiation of a quarterly cash dividend program and the Board of Directors declared the first quarterly cash dividend of $0.10 per share of the Company’s common stock, which was paid during the fourth quarter of 2021. Alcoa Corporation paid quarterly cash dividends of $0.10 per share in 2022, 2023, and 2024. Dividends on Alcoa Corporation common stock and Series A preferred stock are subject to authorization by the Company’s Board of Directors. The Company intends to pay cash dividends on a quarterly basis; however, the payment, amount, and timing of dividends, if any, depends upon matters deemed relevant by the Company’s Board of Directors, such as Alcoa Corporation’s financial position, results of operations, cash flows, capital requirements, business condition, future prospects, any limitations imposed by law, credit agreements or senior securities, and other factors deemed relevant and appropriate. See Part II Item 7 of this Form 10-K in Management’s Discussion and Analysis of Financial Condition and Results of Operations under caption Liquidity and Capital Resources – Financing Activities for more information.
As of February 14, 2025, there were approximately 7,200 holders of record of shares of the Company’s common stock and approximately 39,800 holders of record of the Company’s CDIs. Because many of Alcoa Corporation’s shares and CDIs are held by brokers and other institutions on behalf of stockholders, the Company is unable to estimate the total number of stockholders represented by these holders.
Unregistered Sales of Equity Securities
Information required by Item 701 of Regulation S-K with respect to the Company’s issuance of Alcoa common stock (including common stock underlying CDIs) and Alcoa Series A convertible preferred stock is included in the Company’s Current Report on Form 8-K, filed with the SEC on August 1, 2024.
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Stock Performance Graph
The following graph compares Alcoa Corporation’s cumulative total stockholder return (i.e., stock price change plus reinvestment of dividends) with the cumulative total stockholder returns of (1) the Standard and Poor’s (S&P) Metals & Mining Select Industry Index, and (2) the S&P MidCap 400 ® Index. This comparison was based on an initial investment of $100, including the reinvestment of any dividends, on December 31, 2019 through December 31, 2024.
The stock performance information included in this graph is based on historical results and is not necessarily indicative of future stock price performance.
December 31,
2019
2020
2021
2022
2023
2024
Alcoa Corporation
$
100
$
107
$
278
$
213
$
161
$
182
S&P Metals & Mining Select Industry Index
100
116
158
179
218
209
S&P MidCap 400 Index
100
114
142
123
144
164
Issuer Purchases of Equity Securities
Fourth Quarter 2024
Total Number of Shares Purchased
Weighted Average Price Paid Per Share
Total Number of Shares Purchased as Part of Publicly Announced Program
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program (1)
October 1 to October 31
—
$
—
—
$
500
November 1 to November 30
—
—
—
500
December 1 to December 31
—
—
—
500
Total
—
—
—
(1) On July 20, 2022, Alcoa Corporation announced that its Board of Directors approved a common stock repurchase program under which the Company may purchase shares of its outstanding common stock up to an aggregate transactional value of $500, depending on the Company’s continuing analysis of market, financial, and other factors (the July 2022 authorization).
As of the date of this report, the Company is currently authorized to repurchase up to a total of $500, in the aggregate, of its outstanding shares of common stock under the July 2022 authorization. Repurchases under this program may be made using a variety of methods, which may include open market purchases, privately negotiated transactions, or pursuant to a Rule 10b5-1 plan. This program may be suspended or discontinued at any time and does not have a predetermined expiration date. Alcoa Corporation intends to retire repurchased shares of common stock.
Item 6. [RES ERVED]
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