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The Company's voting Class A Common Stock, par value $0.10 per share, and non-voting Class B Common Stock, par value $0.10 per share ("Class A" and "Class B," respectively), are traded on the NASDAQ Global Select Market under the symbols BELFA and BELFB, respectively.
−Removed: As of February 29, 2024, there w e re 34 registered shareholders of the Company's Class A Common Stock and 317 registered shareholders of the Company's Class B Common Stock.
+Added: As of January 31, 2025, there w e re 29 registered shareholders of the Company's Class A Common Stock and 217 registered shareholders of the Company's Class B Common Stock.
We believe that the number of beneficial owners is substantially greater than the number of record holders because a large portion of our Class A and Class B Common Stock is held in "street name" by brokers.
−Removed: At February 29, 2024, to the Company's knowledge, there was one shareholder of the Company's Class A common stock whose voting rights were suspended.
−Removed: This shareholder owned 16.7% of the Company's outstanding shares of Class A common stock.
−Removed: For additional discussion, see Item 1A – "Risk Factors – As a result of protective provisions in the Company's restated certificate of incorporation, as amended, the voting power of holders of Class A common shares whose voting rights are not suspended (including officers, directors and principal shareholders) may be increased at future meetings of the Company's shareholders" .
−Removed: During the years ended December 31, 2023 and 2022, the Company declared dividends on a quarterly basis at a rate of $0.06 per Class A share of common stock and $0.07 per Class B share of common stock totaling $3.5 mi llion in 2023 and $3.4 million in 2022.
−Removed: On February 1, 2024, the Company paid a dividend to all shareholders of record at January 15, 2024 of Class A and Class B Common Stock in the total amount of $0.1 million ($0.06 per share) and $0.7 million ($0.07 p er share), respectively.
+Added: During the years ended December 31, 2024, 2023 and 2022, the Company declared dividends on a quarterly basis at a rate of $0.06 per Class A share of common stock and $0.07 per Class B share of common stock totaling $3.5 m i llion in 2024, $3.5 million in 2023 and $3.4 million in 2022.
+Added: On February 1, 2025, the Company paid a dividend to all shareholders of record at January 15, 2025 of Class A and Class B Common Stock in the total amount of $0.1 million ($0.06 per share) and $0.7 million ($0.07 per share), respectively.
On February 12, 2025, Bel's Board of Directors declared a dividend in the amount of $0.06 per Class A common share and $0.07 per Class B common share which is scheduled to be paid on May 1, 2025 to all shareholders of record at April 15, 2025.
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Stock Performance Graph
−Removed: Not applicable.
+Added: The following shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference into any of our other filings under the Securities Exchange Act of 1934, as amended, or the Securities Act.
+Added: The following graph shows, for the five years ended December 31, 2024, the cumulative total return on an investment of $100 assumed to have been made on December 31, 2019 in Bel Fuse Inc.
+Added: Class B common stock.
+Added: The graph compares this return ("Bel") with that of comparable investments assumed to have been made on the same date in:
+Added: (a) Russell 2000 Index and (b) a group of companies in our industry, consisting of Nasdaq listed stocks (U.S.
+Added: and foreign) with SIC codes 3670-3679, Electronic Components & Accessories.
+Added: Total return for each assumed investment assumes the reinvestment of all dividends on December 31 of the year in which the dividends were paid.
+Added: Comparison of 5 Year Cumulative Total Return
+Added: Assumes Initial Investment of $100
+Added: December 2024
+Added: Bel Fuse Inc.
+Added: Russell 2000 Index
+Added: Nasdaq Stocks (SIC 3670-3679 US + Foreign) Electronic Components & Accessories
Issuer Purchases of Equity Securities
−Removed: The following table summarizes the activity related to repurchases of our equity securities during the fourth quarter ended December 31, 2023:
−Removed: Total Number of Shares Purchased (1)
−Removed: Average Price Paid per Share (1)
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
−Removed: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
−Removed: October 1, 2023 – October 31, 2023
−Removed: November 1, 2023 – November 30, 2023
−Removed: December 1, 2023 – December 31, 2023
−Removed: 2,000 (Class B) (1)
−Removed: 2,000 (Class B) (1)
−Removed: Represents 2,000 shares of Class B Common Stock that were repurchased by the Company from a former employee in connection with the sale of its Czech Republic subsidiary Bel Steward s.r.o.
−Removed: The repurchase was executed in December 2023 in a privately negotiated transaction at the market price of the Class B Common Stock on the date the parties reached agreement with respect to the terms of the transaction.
−Removed: As the relevant authorization and initiation of the Company’s new Repurchase Program (as defined below) are events subsequent to the Q4-2023 reporting period, the table above reporting repurchase data for the fourth quarter ended December 31, 2023 does not reflect any data or transactions relevant to the Company’s $25.0 million share repurchase program (the “Repurchase Program”) as authorized by the Company’s Board of Directors and publicly announced on February 21, 2024.
+Added: On February 21, 2024, the Company’s Board of Directors authorized and the Company publicly announced a $25.0 million share repurchase program (the “Repurchase Program”).
The Repurchase Program authorizes the repurchase of up to $25.0 million of shares of outstanding Class A Common Stock and Class B Common Stock.
−Removed: The aggregate $25.0 million available for repurchases under the Repurchase Program has been suballocated for purchases of Class A shares and Class B shares in portions of $4.0 million and $21.0 million, respectively, prorated to take into account the number of outstanding shares of each respective class.
+Added: The aggregate $25.0 million available for repurchases under the Repurchase Program has been sub-allocated for purchases of Class A shares and Class B shares in portions of $4.0 million and $21.0 million, respectively, prorated to take into account the number of outstanding shares of each respective class.
Shares of Common Stock may be repurchased pursuant to the Repurchase Program in open market, privately negotiated or block transactions or otherwise from time to time, depending upon market conditions and other factors, and in accordance with applicable law and regulations.
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The Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares, and the Repurchase Program may be suspended or terminated at any time.
+Added: As of December 31, 2024, the program-to-date repurchases amounted to 26,326 Class A shares at an aggregate purchase price of $1.9 million and 235,821 Class B shares at an aggregate purchase price of $14.1 million.
+Added: There were no repurchases of our equity securities during the three months ended December 31, 2024.
+Added: Approximately $2.1 million of Class A shares and $6.9 million of Class B shares are yet to be purchased under this plan.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.