Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the New York Stock Exchange and trades under the symbol AGCO. We have a history of paying quarterly cash dividends. During 2024, the Company continued the practice of paying a quarterly dividend of $0.29 per common share and declared a special variable dividend of $2.50 per common share that was paid during the second quarter of 2024. While we currently expect a cash dividend to be paid in the future, future dividend payments will depend on our earnings, capital requirements, financial condition and other factors considered relevant by the Company's Board of Directors.
As of the close of business on February 10, 2025, the closing stock price was $97.41, and there were 442 stockholders of record (this number does not include stockholders who hold their stock through brokers, banks and other nominees).
Performance Graph
The following presentation is a line graph of our cumulative total shareholder return on our common stock on an indexed basis as compared to the cumulative total return of the S&P Mid-Cap 400 Index, the MVIS Global Agribusiness Index for the five years ended December 31, 2024. Our total returns in the graph are not necessarily indicative of future performance.
Cumulative Total Return for the Years Ended December 31,
2019 2020 2021 2022 2023 2024
AGCO Corporation $ 100.00 $ 134.77 $ 156.50 $ 195.56 $ 180.14 $ 143.46
S&P Midcap 400 Index 100.00 113.66 141.80 123.28 143.54 163.54
MVIS Global Agribusiness Index
100.00 114.70 142.81 131.90 120.48 105.90
The total return assumes that dividends were reinvested and is based on a $100 investment on December 31, 2019.
25
Table of Contents
Issuer Purchases of Equity Securities
The table below sets forth information with respect to purchases of our common stock made by or on behalf of us during the three months ended December 31, 2024:
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) (2)
October 1, 2024 through
October 31, 2024
— $ — — $ 57.0
November 1, 2024 through
November 30, 2024 (1)
191,763 $ 96.08 191,763 $ 35.0
December 1, 2024 through
December 31, 2024 (1)
37,206 $ 96.08 37,206 $ 35.0
Total 228,969 $ 96.08 228,969 $ 35.0
___________________________________
(1) In November 2024, we entered into an ASR agreement with a third-party financial institution to repurchase $22.0 million of our common stock. The ASR agreement resulted in the initial delivery of 191,763 shares of our common stock, representing approximately 80% of the shares to be purchased in connection with the transaction. In December 2024, the remaining 37,206 shares under the ASR agreement were delivered. As reflected in the table above, the average price paid per share for the ASR agreement was the volume-weighted average stock price of our common stock over the term of the ASR agreement. The amount that may yet be purchased under our share repurchase programs, as presented in the above table, was reduced by the entire $22.0 million payment related to the ASR agreement. Refer to Note 16 of our Consolidated Financial Statements contained in Item 8, "Financial Statements and Supplementary Data," for further discussion of this matter.
(2) The remaining authorized amount to be repurchased is $35.0 million, which has no expiration date.
Item 6. [Reserved]
26
Table of Contents