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
Our common stock began trading on The Nasdaq National Market on October 15, 1997, and currently trades on the Nasdaq Global Select Market under the symbol “CHRW”.
On February 14, 2024, the closing sales price per share of our common stock as quoted on the Nasdaq Global Select Market was $73.84 per share. On February 15, 2024, there were 128 holders of record. On February 12, 2024, there were 139,704 beneficial owners of our common stock.
Our declaration of dividends is subject to the discretion of the Board of Directors. Any determination as to the payment of dividends will depend upon our results of operations, capital requirements, financial condition, and such other factors as the Board of Directors may deem relevant. Accordingly, there can be no assurance the Board of Directors will declare or continue to pay dividends on the shares of common stock in the future.
The following table provides information about company purchases of common stock during the quarter ended December 31, 2023:
Period Total Number
of Shares
Purchased (1)
Average Price
Paid Per
Share Total Number of Shares Purchased as Part of Publicly Announced
Plans or Programs
Maximum Number of
Shares That May Yet Be Purchased Under the
Plans or Programs (2)
October 2023 4,431 $ 85.53 — 6,763,445
November 2023 10,723 82.07 — 6,763,445
December 2023 3,256 86.02 — 6,763,445
Fourth quarter 2023 18,410 $ 83.60 — 6,763,445
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(1) The total number of shares purchased includes: (i) no shares of common stock were purchased under the authorization described below; and (ii) 18,410 shares of common stock surrendered to satisfy statutory tax withholding obligations under our stock incentive plans.
(2) On December 9, 2021, the Board of Directors increased the company’s share repurchase authorization by an additional 20,000,000 shares of common stock. As of December 31, 2023, there were 6,763,445 shares remaining for future repurchases. Repurchases may be made from time to time at prevailing prices in the open market or in privately negotiated transactions, subject to market conditions and other factors including Rule 10b5-1 plans and accelerated repurchase programs.
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The graph below compares the cumulative 5-year total return of holders of C.H. Robinson Worldwide, Inc.’s common stock with the cumulative total returns of the S&P 500 index and the Nasdaq Transportation index. The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from December 31, 2018 to December 31, 2023.
December 31,
2018 2019 2020 2021 2022 2023
C.H. Robinson Worldwide, Inc.
$ 100.00 $ 95.29 $ 117.22 $ 137.35 $ 119.37 $ 115.66
S&P 500
100.00 131.49 155.68 200.37 164.08 207.21
Nasdaq Transportation
100.00 123.21 130.96 148.36 120.19 161.24
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
ITEM 6. RESERVED
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