AdvanSix Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is traded on the New York Stock Exchange under the symbol “ASIX”. On February 4, 2022, there were 18,830 holders of record of our common stock and the closing price of our common stock on the New York Stock Exchange was $40.55 per share. As of February 4, 2022, 28,141,203 shares of our common stock and 0 shares of our preferred stock were outstanding. On May 4, 2018, the Company announced that the Board of Directors (the "Board") authorized a share repurchase program of up to $75 million of the Company’s common stock. On February 22, 2019, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock, which was in addition to the remaining capacity available under the May 2018 share repurchase program. Repurchases may be made, from time to time, on the open market, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act. The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The below table sets forth the repurchases of Company common stock, by month, for the quarter ended December 31, 2021: Period Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plan Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan October 2021 — $ — — $ 59,581,679 November 2021 (1) 1,274 49.14 — 59,581,679 December 2021 — — — $ 59,581,679 Total 1,274 $ 49.14 — (1) Total number of shares purchased includes 1,274 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards. As of December 31, 2021, the Company had repurchased a total of 3,615,476 shares of common stock, including 525,714 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards, for an aggregate of $102.4 million at a weighted average market price of $28.31 per share. During the period January 1, 2022 through February 4, 2022, no additional shares were repurchased under the currently authorized repurchase program. Dividends As announced on February 18, 2022, the Board declared a quarterly cash dividend of $0.125 per share on the Company's common stock, payable on March 15, 2022 to stockholders of record as of the close of business on March 1, 2022. As announced on September 28, 2021, the Board declared a quarterly cash dividend of $0.125 per share on the Company's common stock, payable on November 23, 2021 to stockholders of record as of the close of business on November 9, 2021. We generally expect to declare and pay dividends on a quarterly basis; however, the timing, declaration, amount and payment of future dividends to stockholders, if any, will depend on our financial condition, earnings, capital requirements and debt service obligations and fall within the discretion of our Board. Holders of shares of our common stock will be entitled to receive dividends when, and if, declared by our Board at its discretion out of funds legally available for that purpose, subject to the terms of our indebtedness, the preferential rights of any preferred stock that may be outstanding, legal requirements, regulatory constraints, industry practices and other factors that our Board deems relevant. Our credit agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, pay cash dividends. There can be no assurance that payment of a dividend will occur in the future. The Company paid dividends of approximately $3.5 million for the year ended December 31, 2021, with no dividends declared during 2020 and 2019. Performance Graph 25 The following graph compares the cumulative total stockholder return on the Company’s common stock to the total returns on the Standard & Poor’s ("S&P") Small Cap 600 Stock Index and the S&P Small Cap 600 Materials Index. The changes for the periods shown in the graph assume that $100 had been invested in AdvanSix stock and each index on December 31, 2016, and that all dividends, if any, were reinvested. The share price performance in the graph is not necessarily indicative of future price performance. COMPARISON OF CUMULATIVE TOTAL RETURN December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 AdvanSix Inc. 100 190 110 90 90 214 S&P Small Cap 600 100 113 104 127 142 180 S&P Small Cap 600 Materials 100 110 85 103 126 150 Item 6. [Reserved]