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As of February 16, 2023, we had 277,510,165 shares of common stock outstanding, which were held by 162 holders of record.
−Removed: We have not paid a dividend on our common stock since 2014.
−Removed: Any future determination as to the payment of dividends will depend upon the results of our operations, capital requirements, our financial condition and such other factors as our board of directors may deem relevant.
+Added: On November 1, 2022, we reinstated a quarterly cash dividend of 12.5¢ per share on our common stock commencing with the fourth quarter of 2022.
+Added: We paid cash dividends on our common stock on December 15, 2022, resulting in total dividends paid of $34.7 million.
+Added: We currently intend to continue to pay dividends to the holders of our common stock in the future.
+Added: However, the declaration and payment of future dividends will be at the discretion of the board of directors and will depend upon the results of our operations, capital requirements, our financial condition and such other factors as our board of directors may deem relevant.
Stockholder Return Performance
−Removed: A peer group of companies is used by our compensation committee to determine total stockholder return performance which is used as a metric in our Annual Incentive Plan and to determine whether performance share units are earned as awarded under our 2019 Long-term Incentive Plan.
−Removed: In 2021, the compensation committee utilized a peer group that consisted of Antero Resources Corporation, Chesapeake Energy Corporation, Coterra Energy Inc., CNX Resources Corporation, EQT Corporation, Vine Energy Inc., SPDR S&P Oil and Gas Exploration & Production ETF, Range Resources, Inc., SilverBow Resources, Inc.
−Removed: and Southwestern Energy Company.
−Removed: The following graph compares the yearly percentage change in the cumulative total stockholder return on our common stock during the five years ended December 31, 2021 with the cumulative return on the New York Stock Exchange Index and the cumulative return for our 2021 peer group.
+Added: The following graph compares the yearly percentage change in the cumulative total stockholder return on our common stock during the five years ended December 31, 2022 with the cumulative returns during the same period for the New York Stock Exchange Index and the SPDR Standard & Poor's ("S&P") Oil and Gas Exploration and Production ETF.
The graph assumes that $100.00 was invested on the last trading day of 2017, and that dividends, if any, were reinvested.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN (1)
−Removed: Among Comstock, the NYSE Composite Index, and Our Peer Group
+Added: Among Comstock, the NYSE Composite Index and the S&P Oil & Gas Exploration and Production ETF Index
As of December 31,
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NYSE Composite $100.00 $91.05 $114.28 $122.26 $147.54 $133.75
−Removed: 2021 Peer Group $100.00 $70.42 $42.30 $26.86 $28.22 $53.51
+Added: SPDR S&P Oil and Gas Exploration and Production ETF $100.00 $71.90 $65.11 $41.41 $69.05 $100.37
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(1) The data contained in the above graph is deemed to be furnished and not filed pursuant to Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
+Added: COMSTOCK RESOURCES, INC.
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.