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
ARL’s common stock is listed and traded on the NYSE under the symbol “ARL”. The following table sets forth the high and low sales prices as reported in the consolidated reporting system of the NYSE for the quarters ended:
2021 2020
High Low High Low
First Quarter $ 11.50 $ 8.50 $ 13.51 $ 11.22
Second Quarter $ 13.31 $ 7.71 $ 14.36 $ 11.19
Third Quarter $ 20.38 $ 9.20 $ 17.89 $ 10.53
Fourth Quarter $ 13.67 $ 11.04 $ 17.39 $ 12.25
On March 28, 2022, the closing market price of our commo n stock on the NYSE $14.44 per share, and w as held by approximately 1,373 stockholders of record.
Our Board of Directors established a policy that dividend declarations on common stock would be determined on an annual basis following the end of each year. In accordance with that policy, the board determined not to pay any dividends on common stock in December 31, 2021, 2020 or 2019. Future distributions to common stockholders will be determined by the Board of Directors in light of conditions then existing, including our financial condition and requirements, future prospects, restrictions in financing agreements, business conditions and other factors deemed relevant by the Board.
We have a share repurchase program that allows for the repurchase of up to 1,250,000 shares of our common stock. This repurchase program has no termination date. There were no shares repurchased in 2021 and the program has 19,465 share remaining that can be repurchased as of December 31, 2021.
ITEM 6. SELECTED FINANCIAL DATA
Optional and not included.
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