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 Information
The shares of our common stock are listed on the New York Stock Exchange under the symbol, “CCS.”
Holders
As of January 25, 2022, there were approximately 38 stockholders of record of our common stock.
Dividends
In May 2021, our Board of Directors announced the approval of the initiation of a quarterly cash dividend, and during the year ended December 31, 2021, we paid a quarterly cash dividend of $0.15 per share beginning with the second quarter of 2021, and aggregate cash dividends of $0.45 per share to holders of record of our common stock. The declaration and payment of future dividends are at the discretion of our Board of Directors and will depend on many factors, including our results of operations and financial condition, our capital requirements, and contractual limitations. The agreements governing our indebtedness, including our revolving line of credit and the indentures that govern our senior notes, limit our ability to pay dividends and restrict the amount of dividends we may pay. During the year ended December 31, 2020, we did not declare or pay any dividends.
Issuer Purchases of Equity Securities
On November 6, 2018, the Company's Board of Directors authorized a stock repurchase program, under which we may repurchase up to 4,500,000 shares of our outstanding common stock. Under the terms of the program, the shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws. This program has no expiration date but may be terminated by the Board of Directors at any time. The Company repurchased 687,061 shares throughout the duration of this program and 3,812,939 shares remained available to repurchase under this program as of December 31, 2021. No shares were repurchased by the Company during the year ended December 31, 2021.
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Stock Performance Graph
The following stock performance graph compares the cumulative total shareholder return (assuming reinvestment of dividends) on $100 invested in each of our common stock, the S&P 500, a peer group of four homebuilding companies similar to Century that was presented in the stock performance graph last year, and a broader industry peer group for the five-year period from December 31, 2016 to December 31, 2021.
Century believes the broader industry peer group is more representative of a group similar to Century. The former peer group of four homebuilding companies includes: Beazer Homes USA, Inc. M.D.C. Holdings, M/I Homes, Inc. and Tri Pointe Homes, Inc. The broader industry peer group includes the following companies: Beazer Homes USA, Inc., Hovanian Enterprises, Inc., KB Home, LGI Homes, Inc., M.D.C. Holdings, Inc., M/I Homes, Inc., Meritage Home Corporation, Taylor Morrison Home Corporation, and Tri Pointe Homes, Inc .
The stock price performance shown on the following graph is not indicative of future price performance.
Comparison of Cumulative Total Return from December 31, 2016 to December 31, 2021
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IT EM 6 . [Reserved]
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