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
The Company's common stock is traded on the Nasdaq Global Select Market ("Nasdaq") under the symbol CVCO.
As of May 20, 2022, the Company had 537 stockholders of record and approximately 22,450 beneficial holders of its common stock, based upon information in securities position listings by registered clearing agencies upon request of the Company's transfer agent.
In the past two fiscal years, we have not paid any dividends on the Company's common stock. The payment of dividends to Company stockholders is subject to the discretion of the Board of Directors, and various factors may prevent us from paying dividends. Such factors include Company cash requirements and liquidity and the requirements of state, corporate and other laws.
Issuer Purchases of Equity Securities
On October 27, 2020, the Company's Board of Directors approved a $100 million stock repurchase program that may be used to purchase its outstanding common stock. The repurchases may be made in the open market or in privately negotiated transactions in compliance with applicable state and federal securities laws and other legal requirements. The level of repurchase activity is subject to market conditions and other investment opportunities. The repurchase program does not obligate us to acquire any particular amount of common stock and may be suspended or discontinued at any time. The repurchase program is funded using our available cash. Share repurchase activity during the three months ended April 2, 2022 was as follows (in thousands, except number of shares and per share amounts):
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of the Publicly Announced Program Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program
January 2, 2022 to
February 5, 2022 — $ — — $ —
February 6, 2022 to
March 5, 2022 — — — —
March 6, 2022 to
April 2, 2022 115,200 264.52 115,200 38,960
115,200 115,200
Subsequent to fiscal 2022 year end, we utilized the remaining $39 million under this program. On May 25, 2022, the Company's Board of Directors approved another $100 million stock repurchase program under the same terms and conditions as the previous plan.
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Performance Graph
The following graph compares the yearly change in the cumulative total stockholder return on Cavco common stock during the five fiscal years ended April 2, 2022, with that of the Nasdaq Composite Index and the iShares U.S. Home Construction ETF. The comparison assumes $100 (with reinvestment of all dividends) was invested on April 1, 2017, in Cavco common stock and in each of the foregoing indices.
CAVCO INDUSTRIES, INC.
4/1/2017 3/31/2018 3/30/2019 3/28/2020 4/3/2021 4/2/2022
Cavco Industries, Inc. $ 100 $ 149 $ 101 $ 128 $ 200 $ 209
Nasdaq Composite Index $ 100 $ 119 $ 131 $ 127 $ 228 $ 241
iShares U.S. Home Construction ETF $ 100 $ 124 $ 111 $ 97 $ 221 $ 192
ITEM 6. [RESERVED]
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