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
Market Information
Our common stock is traded on The Nasdaq Stock Market under the ticker symbol "APOG". As of April 5, 2024, there were 1,061 shareholders of record and 12,990 shareholders for whom securities firms acted as nominees.
Dividends
Quarterly, the Board of Directors evaluates declaring dividends based on operating results, available funds and the Company's financial condition. Cash dividends have been paid each quarter since 1974. The chart below shows quarterly and annual cumulative cash dividends per share for the past three fiscal years.
Fiscal Year First Second Third Fourth Total
2024 $ 0.2400 $ 0.2400 $ 0.2400 $ 0.2500 $ 0.9700
2023 0.2200 0.2200 0.2200 0.2400 0.9000
2022 0.2000 0.2000 0.2000 0.2200 0.8200
Purchases of Equity Securities by the Company
The following table provides information with respect to purchases made by the Company of its own stock during the fourth quarter of fiscal 2024:
Period Total Number of Shares Purchased (a) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (b) Maximum Number of Shares that May Yet Be Purchased under the Plans or Programs (b)
November 26, 2023 through December 30, 2023 — $ — — 2,973,483
December 31, 2023 through January 27, 2024 229 53.79 — 2,973,483
January 28, 2024 through March 2, 2024 120 54.02 — 2,973,483
Total 349 $ 53.86 — 2,973,483
(a) The shares in this column represent the total number of shares that were surrendered to us by plan participants to satisfy withholding tax obligations related to share-based compensation. We did not purchase any shares pursuant to our publicly announce repurchase program during the fiscal quarter.
(b) In fiscal 2004, announced on April 10, 2003, the Board of Directors authorized the repurchase of 1,500,000 shares of Company stock. The Board increased the authorization by 750,000 shares, announced on January 24, 2008; by 1,000,000 shares on each of the announcement dates of October 8, 2008, January 13, 2016, January 9, 2018, January 14, 2020, October 7, 2021 and June 22, 2022; and by 2,000,000 shares, announced on October 3, 2018, January 14, 2022 and October 6, 2023. The repurchase program does not have an expiration date.
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Comparative Stock Performance
The graph below compares the cumulative total shareholder return on a $100 investment in our common stock for the last five fiscal years with the cumulative total return on a $100 investment in the Russell 2000 Index, a broad equity market index, and the S&P 600 Industrials Index. Effective as of February 26, 2023, the Company changed industry indexes, from the S&P Small Cap 600 Growth Index to the S&P 600 Industrials Index. We believe that the S&P 600 Industrials Index is the best available published industry index, composed of companies with similar market capitalization and a mix of GICS classifications that reasonably reflect our diverse business activities, although most of our direct competitors in our various business units are either privately owned or are divisions of larger, publicly owned companies. The graph assumes an investment at the close of trading on March 2, 2019, and also assumes the reinvestment of all dividends.
2019 2020 2021 2022 2023 2024
Apogee $ 100.00 $ 85.42 $ 109.04 $ 135.34 $ 139.22 $ 176.98
S&P 600 Industrials 100.00 94.77 136.18 138.58 150.46 184.84
Russell 2000 Index 100.00 94.22 142.27 133.31 128.11 141.46
S&P SmallCap 600 Growth Index 100.00 93.43 137.20 135.00 124.44 138.14
ITEM 6. [RESERVED]
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