Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Market Information
Our common stock commenced trading on March 3, 1998, on the Nasdaq Global Select Market and trades today under the symbol “CNXN”. As of February 15, 2024, there were 26,361,133 shares of our common stock outstanding, held by approximately 37 stockholders of record. This figure does not include an estimate of the number of beneficial holders whose shares are held of record by brokerage firms.
Dividends
The following table summarizes our 2023 quarterly dividends paid (in millions, except per share data):
Dividend per Share
Declaration Date
Record Date
Payment Date
Total Dividend
$
0.08
February 9, 2023
February 21, 2023
March 10, 2023
$
2.1
$
0.08
May 4, 2023
May 16, 2023
June 2, 2023
$
2.1
$
0.08
August 2, 2023
August 15, 2023
September 1, 2023
$
2.1
$
0.08
October 31, 2023
November 14, 2023
December 1, 2023
$
2.1
On February 14, 2024, we announced that our Board of Directors declared a quarterly cash dividend on our common stock of $0.10 per share. The dividend will be paid on March 15, 2024 to all stockholders of record as of the close of business on February 27, 2024. The declaration and payment of any future dividends is at the discretion of our Board of Directors and will depend upon our financial position, strategic plans, general business conditions and any other factors deemed relevant by our Board of Directors.
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Stock Performance Graph
The following performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
The following graph compares our annual percentage change in cumulative total return on shares of our common stock over the past five years with the cumulative total return of companies comprising the NASDAQ Composite Index and the NASDAQ US Benchmark TR Index. This presentation assumes that $100 was invested in shares of the relevant issuers on December 31, 2018, and that dividends received were immediately invested in additional shares of our common stock. The graph plots the value of the initial $100 investment at one-year intervals for the fiscal years shown. The NASDAQ US Benchmark TR Index replaces the NASDAQ US Benchmark Retail TR Index in this analysis and going forward, as we determined that this index is a more accurate representation of our peers. The NASDAQ US Benchmark Retail TR Index has been included with this analysis for 2023.
Base Period
Years Ended
Company Name / Index
Dec-18
Dec-19
Dec-20
Dec-21
Dec-22
Dec-23
PC Connection, Inc.
100.00
168.05
160.01
150.02
164.12
236.74
Nasdaq Stock Market-Composite
100.00
136.69
198.10
242.03
163.28
236.17
Nasdaq US Benchmark TR Index
100.00
131.17
159.07
200.26
160.75
203.23
Nasdaq US Benchmark Retail TR Index
100.00
125.41
177.06
210.50
143.12
197.92
Item 6. [Reserved]
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