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
Registrar and Transfer Agent
Computershare Trust Company, N.A.
Correspondence should be mailed to:
Computershare
P.O. Box 505000
Louisville, KY 40233
Overnight correspondence should be sent to:
Computershare
462 South 4 th Street, Suite 1600
Louisville, KY 40202
(800) 254-5196
(781) 575-2879 (Foreign shareholders)
www.computershare.com/investor
Stock Listing
Culp, Inc. common stock is traded on the New York Stock Exchange (NYSE) under the symbol CULP. As of May 1, 2022, Culp, Inc. had approximately 3,545 shareholders based on the number of holders of record and an estimate of individual participants represented by security position listings.
Analyst Coverage
These analysts cover Culp, Inc.:
Sidoti & Company, LLC – Anthony Lebiedzinski
Value Line – Simon R. Shoucair
Water Tower Research – Budd Bugatch, CFA
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Dividends and Share Repurchases; Sales of Unregistered Securities
Share Repurchases
ISSUER PURCHASES OF EQUITY SECURITIES
Period
(a)
Total
Number
of Shares
Purchased
(b)
Average
Price
Paid per
Share
(c)
Total Number
of Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs
(d)
Approximate
Dollar Value
of Shares that
May Yet Be
Purchased
Under
the Plans or
Programs (1)
January 31, 2022 to March 6, 2022
—
$
—
—
$
3,248,094
March 7, 2022 to April 3, 2022
—
$
—
—
$
3,248,094
April 4, 2022 to May 1, 2022
—
$
—
—
$
3,248,094
Total
—
$
—
—
$
3,248,094
(1)
In March 2020, our board of directors approved an authorization for us to acquire up to $5.0 million of our common stock.
Dividends
On June 29, 2022, our board of directors announced the decision to suspend the company’s quarterly cash dividend. Considering the current and expected macroeconomic conditions, we believe that preserving capital and managing our liquidity is in the company’s best interest to support future growth and the long-term interests of our shareholders.
During fiscal 2022, dividend payments totaled $5.5 million, which represented quarterly dividend payments ranging from $0.11 per share to $0.115 per share. During fiscal 2021, dividend payments totaled $5.3 million, which represented quarterly dividend payments ranging from $0.105 per share to $0.11 per share. During fiscal 2020, dividend payments totaled $5.1 million, which represented quarterly cash dividend payments ranging from $0.10 per share to $0.105 per share.
Sales of Unregistered Securities
There were no sales of unregistered securities during fiscal 2022, 2021, or 2020.
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Performance Comparison
The following graph shows changes over the five fiscal years ending May 1, 2022, in the value of $100 invested in (1) the common stock of the company, (2) the Hemscott Textile Manufacturing Group Index reported by Standard and Poor’s, consisting of three companies in the textile industry, and (3) the Standard & Poor’s 500 Index.
The graph assumes an initial investment of $100 at the end of fiscal 2017 and the reinvestment of all dividends during the periods identified.
ITEM 6. [RESERVED]
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