Item 5. Market for Registrant’s Common Equity
ITEM 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Market for Our Common Shares
Our common shares trade on the New York Stock Exchange under the trading symbol “CVEO”.
Holders of Record
As of February 21, 2025, there were 21 holders of record of Civeo common shares.
Dividend Information
We intend to pay regular quarterly dividends on our common shares, with all future dividend payments subject to quarterly review and approval by our Board of Directors (Board). The declaration and amount of all potential future dividends will be at the discretion of our Board and will depend upon many factors, including our financial condition, results of operations, cash flows, prospects, industry conditions, capital requirements of our business, covenants associated with certain debt obligations, legal requirements, regulatory constraints, industry practice and other factors the Board deems relevant. In addition, our ability to pay cash dividends on common shares is limited by covenants in the Credit Agreement. Future agreements may also limit our ability to pay dividends, and we may incur incremental taxes if we are required to repatriate foreign earnings to pay such dividends. The amount per share of our dividend payments may be changed, or dividends may be suspended, without advance notice. The likelihood that dividends will be reduced or suspended is increased during periods of market weakness. There can be no assurance that we will continue to pay a dividend in the future.
Performance Graph
The share price performance shown on the graph is not necessarily indicative of future price performance. Information used in the graph was obtained from Research Data Group, Inc., a source believed to be reliable, but we are not responsible for any errors or omissions in such information.
The following performance graph and chart compare the cumulative total return to holders of our common shares with the cumulative total returns of the Standard & Poor's 500 Stock Index, Philadelphia OSX and with that of our peer group, for the period from December 31, 2019 to December 31, 2024. The graph and chart show the value, at the dates indicated, of $100 invested at December 31, 2019 and assume the reinvestment of all dividends, as applicable.
Our peer group consists of the following:
Badger Daylighting Ltd. Nine Energy Service, Inc.
Black Diamond Group Limited North American Construction Group
Dexterra Group Inc. Oil States International, Inc.
Enerflex Ltd. Precision Drilling Corporation
Forum Energy Technologies, Inc. Select Energy Services Inc.
Matrix Service Company Target Hospitality Corp.
McGrath RentCorp
Tetra Technologies, Inc.
Newpark Resources, Inc. Total Energy Services Inc.
Note: The current peer group remained unchanged for 2024.
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12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24
Civeo Corporation $ 100.00 $ 89.79 $ 123.84 $ 200.90 $ 151.00 $ 156.43
S&P 500 $ 100.00 $ 118.40 $ 152.39 $ 124.79 $ 157.59 $ 197.02
PHLX Oil Service Sector $ 100.00 $ 57.92 $ 69.94 $ 112.94 $ 115.10 $ 101.68
Peer Group $ 100.00 $ 88.54 $ 119.90 $ 132.98 $ 142.98 $ 166.08
The performance graph above is furnished and not filed for purposes of the Securities Act and the Exchange Act. The performance graph is not soliciting material subject to Regulation 14A.
Unregistered Sales of Equity Securities and Use of Proceeds
None.
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Repurchases of Registered Equity Securities by Registrant or its Affiliates in the Fourth Quarter
The following provides information about purchases of our common shares during the three months ended December 31, 2024.
Total Number of Shares Purchased (1)
Average Price Paid per Share Total number of shares purchased as part of publicly announced plans or programs Maximum number of shares that may be purchased under the plans or programs
October 1, 2024 - October 31, 2024 111,555 $ 27.52 111,555 249,692
November 1, 2024 - November 30, 2024 96,600 25.67 96,600 153,092
December 1, 2024 - December 31, 2024 — — — 153,092
Total 208,155 $ 26.66 208,155 153,092
(1) In September 2024, our Board authorized the repurchase of up to 5% of our total common shares which were issued and outstanding, or 710,556 common shares (the 2024 Share Repurchase Program). Under the 2024 Share Repurchase Program, we may repurchase shares through open market repurchases, pursuant to a Rule 10b5‑1 compliant plan, or in privately negotiated transactions. The 2024 Share Repurchase Program expires 12 months from the date of the first repurchase and was made pursuant to a foreign issuer bid exemption under Canadian securities law, which permits us to make repurchases in excess of 5% (subject to approval by our Board). We repurchased an aggregate of 208,155 of our common shares outstanding for approximately $5.6 million under the 2024 Share Repurchase Program during the three months ended December 31, 2024.
ITEM 6. Reserved
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