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 Prices
Our common stock is traded on the Nasdaq Global Select Market under the symbol “BRKR.”
As of February 17, 2021, there were approximately 99 holders of record of our common stock. This number does not include individual beneficial owners of shares held in nominee name or within clearinghouse positions of brokerage firms and banks.
Dividends
In February 2016, we announced the establishment of a dividend policy and the declaration by our Board of Directors of an initial quarterly cash dividend in the amount of $0.04 per share of our issued and outstanding common stock. Future dividend payments, if any, are subject to approval of our Board of Directors. We are targeting a cash dividend to our shareholders in the amount of $0.16 per share per annum, payable in equal quarterly installments.
Stock Price Performance Graph
The graph below shows the cumulative stockholder return, assuming the investment of $100 (and the reinvestment of any dividends thereafter) for the period beginning on December 31, 2015 through December 31, 2020, for our common stock, stocks traded on Nasdaq, and a peer group consisting of U.S. public companies with a Standard Industry Classification, or SIC, code 3826 Laboratory Analytical Instruments. Such returns are based on historical results and are not intended to suggest future performance.
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Cumulative Total Return Index for:
2015
2016
2017
2018
2019
2020
Bruker Corporation
$
100.0
$
87.84
$
143.14
$
124.79
$
214.45
$
228.55
Nasdaq Stock Market (US companies)
100.0
109.80
141.97
139.65
190.07
273.58
SIC Code 3826 Laboratory Analytical Instruments
100.0
94.46
145.07
152.36
190.81
252.10
The data for this performance graph was compiled by Zack’s Investment Research, Inc. and is used with its permission.
Issuer Purchases of Securities
The following table provides information about purchases made by or on behalf of the Company or any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) under the Exchange Act, during the quarter ended December 31, 2020 of shares of our common stock.
Total Number of
Maximum Number (or
Shares Purchased as
Approximate Dollar Value) of
Total Number of
Part of Publicly
Shares that May Yet Be
Shares Purchased
Average Price
Announced Plans or
Purchased Under the Plans
Period
(1)
Paid per Share
Programs
or Programs (2)
October 1 - October 31, 2020
120,036
$
41.65
120,036
$
97,695,588
November 1 - November 30, 2020
722,838
$
48.39
722,838
$
62,715,823
December 1 - December 31, 2020
527,518
$
53.58
527,518
$
34,453,095
1,370,392
$
49.80
1,370,392
$
34,453,095
(1) The Company purchased shares of common stock in accordance with its share repurchase program approved by the Board of Directors and announced on May 10, 2019. The shares were purchased on the open market at prevailing prices.
(2) The Repurchase Program authorizes the Company to purchase up to $300.0 million of its common stock over a two-year period. The Repurchase Program expires May 13, 2021 and can be suspended, modified or terminated at any time without prior notice. Purchases of common stock may occur from time to time, in amounts, at prices, and at such times as management deems appropriate, subject to market conditions, legal requirements and other considerations. At February 25, 2021, $5.3 million remains for future purchase under the share purchase program.
In 2020, we repurchased 2,711,952 shares of common stock with an aggregate cost of approximately $123.2 million under the 2019 Repurchase Program. Any future repurchases will be funded from cash on hand, future cash flows from operations and available borrowings under our revolving credit facility.
ITEM 6 RESERVED
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