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
Our common stock is traded on The NASDAQ Stock Market under the symbol “CTRN.” On March 31, 2021, there were 37 holders of record and approximately 6,500 beneficial holders of our common stock.
On March 17, 2020, we paid a dividend of $0.08 per common share. On April 28, 2020, we announced the suspension of future cash dividends. Any determination to declare and pay cash dividends in the future will be made by the Company’s board of directors.
Recent Sales of Unregistered Securities.
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers.
On March 13, 2020, the Company announced that its board of directors approved a $30.0 million stock repurchase program. Due to the uncertainty stemming from the COVID-19 pandemic, on March 23, 2020, the Company temporarily suspended any repurchases. On September 14, 2020, the Company announced the reinstatement of this program. On December 22, 2020, the Company announced that its board of directors approved an additional $30.0 million stock repurchase program.
The number of shares of common stock that we repurchased during the fourth quarter of fiscal 2020 and the average price paid per share are as follows:
Total number of
Maximum number (or
shares purchased as
approximate dollar value)
part of publicly
of shares that may yet be
Total number of
Average price
announced plans or
purchased under the plans
Period
shares purchased
paid per share (1)
programs (2)
or programs (2)
November (11/1/20 - 11/28/20)
169,120
$
30.32
169,120
$
15,000,000
December (11/29/20 - 1/2/21)
103,882
44.21
103,882
40,410,127
January (1/3/21 - 1/30/21)
121,902
57.41
121,902
33,415,459
Total
394,904
394,904
(1) Includes commissions for the shares repurchased under the stock repurchase program.
(2) On March 13, 2020, the Company announced that its board of directors approved a $30.0 million stock repurchase program. On December 22, 2020, the Company announced that its board of directors approved an additional $30.0 million stock repurchase program. Neither program has an expiration date.
In the first quarter of fiscal 2021, the Company has continued to repurchase shares under these stock repurchase programs. In addition, the Company completed a b lock repurchase of 250,000 shares on March 23, 2021 for an aggregate purchase price of $21.9 million.
Equity Compensation Plan Information.
See Item 12 of this Report.
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Stock Performance Graph
Set forth below is a line graph comparing the last five years’ percentage change in the cumulative total stockholder return on shares of our common stock against the cumulative total returns of the Russell 2000 Index and the NASDAQ Retail Trade Index. This graph assumes that $100 was invested on January 31, 2016 in our common stock and in each of the market index and the industry index, and that all cash distributions were reinvested. Our common stock price performance shown on the graph is not indicative of future price performance.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among Citi Trends, Inc., the Russell 2000 Index and the NASDAQ Retail Trade Index
*$100 invested on 1/31/16 in stock or index, including reinvestment of dividends .
Total Return Analysis
1/16
1/17
1/18
1/19
1/20
1/21
Citi Trends, Inc.
100.00
78.73
117.10
103.39
119.65
304.36
Russell 2000 Index
100.00
133.53
156.47
150.96
164.86
214.61
NASDAQ Retail Trade
100.00
122.18
183.59
203.45
234.08
377.37
ITEM 6. SELECTED FINANCIAL DATA
The selected financial data previously required by Item 301 of Regulation S-K has been omitted in reliance on SEC Release No. 33-10890.
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