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 2, 2024, there were 16,728 holders of record of our common stock and the closing price of our common stock on the New York Stock Exchange was $25.18 per share. As of February 2, 2024, 26,700,024 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. On February 17, 2023, 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 previously approved share repurchase program. Repurchases may be made from time to time on the open market in accordance with Rule 10b-18 of the Exchange Act, 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 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, 2023: Period Total Number of Shares Purchased 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 2023 111,987 $ 28.97 111,987 $ 73,375,668 November 2023 120,010 26.09 120,010 70,245,038 December 2023 74,530 27.31 74,530 $ 68,209,639 Total 306,527 $ 27.44 306,527 As of December 31, 2023, the Company had repurchased a total of 5,848,475 shares of common stock, including 854,340 shares withheld to cover tax withholding obligations in connection with the vesting of equity awards, for an aggregate of $182.0 million at a weighted average market price of $31.12 per share. During the period January 1, 2024 through February 2, 2024, the Company repurchased an additional 64,678 shares at a weighted average market price of $26.39 per share under the current authorized repurchase program. Dividends The Company commenced the declaration of dividends on September 28, 2021 and has declared and paid dividends on a quarterly basis. The Company has increased its quarterly dividend by 10% ($0.145 to $0.160) and 16% ($0.125 to $0.145) during the third quarter of 2023 and 2022, respectively. Dividends paid during 2023 and announced on the date of this filing are as follows: Date of Announcement Date of Record Date Payable Dividend per Share Total Approximate Dividend Amount ($M) 2/16/2024 3/4/2024 3/18/2024 $0.160 $4.3 11/3/2023 11/14/2023 11/28/2023 $0.160 $4.3 8/4/2023 8/15/2023 8/29/2023 $0.160 $4.4 5/5/2023 5/16/2023 5/30/2023 $0.145 $4.0 2/17/2023 3/3/2023 3/17/2023 $0.145 $4.0 27 The timing, declaration, amount and payment of future dividends to stockholders, if any, will be 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 practice and other factors that our Board deems relevant. The Company paid dividends of approximately $16.7 million, $15.1 million and $3.5 million for the years ended December 31, 2023, 2022 and 2021, respectively. Performance Graph 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, 2018, 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, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 AdvanSix Inc. 100 82 82 195 159 127 S&P Small Cap 600 100 123 137 173 145 169 S&P Small Cap 600 Materials 100 121 148 175 164 197 Item 6. [Reserved]