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.
MARKET INFORMATION
Our common stock is listed and traded on the New York Stock Exchange (NYSE) under the symbol CW. As of January 1, 2021, we had approximately 3,000 registered shareholders of our common stock, $1.00 par value.
DIVIDENDS
During 2020 and 2019, the Company paid quarterly dividends as follows:
2020 2019
Common Stock
First Quarter $ 0.17 $ 0.15
Second Quarter 0.17 0.17
Third Quarter 0.17 0.17
Fourth Quarter 0.17 0.17
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
The following table sets forth information regarding our equity compensation plans as of December 31, 2020, the end of our most recently completed fiscal year:
Plan category Number of securities to
be issued upon exercise
of outstanding options,
warrants, and rights Weighted average
exercise price of
outstanding options,
warrants, and rights Number of securities remaining
available for future issuance under
equity compensation plans
(excluding securities reflected in
the first column)
Equity compensation plans approved by security holders 419,940 (a) $109.42 2,153,964 (b)
Equity compensation plans not approved by security holders None Not applicable Not applicable
(a) Consists of 381,905 shares issuable upon exercise of outstanding options and vesting of performance share units, restricted shares, restricted stock units, and shares to non-employee directors under the 2005 and 2014 Omnibus Incentive Plan, and 38,035 shares issuable under the Employee Stock Purchase Plans.
(b) Consists of 1,385,136 shares available for future option grants under the 2014 Omnibus Incentive Plan, and 768,828 shares remaining available for issuance under the Employee Stock Purchase Plan.
Issuer Purchases of Equity Securities
The following table provides information about our repurchases of equity securities that are registered by us pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, during the quarter ended December 31, 2020.
20
Total Number of
shares purchased Average Price
Paid per Share Total Number of
Shares Purchased
as Part of a
Publicly
Announced
Program Maximum
Dollar amount of shares that may
yet be
Purchased
Under the
Program
October 1 – October 31 46,521 $94.59 1,412,207 $258,341,872
November 1 – November 30 535,376 100.86 1,947,583 204,342,164
December 1 – December 31 36,293 115.80 1,983,876 200,139,452
For the quarter ended December 31 618,190 $101.27 1,983,876 $200,139,452
In October 2020, the Corporation announced that its Board of Directors has authorized an additional $200 million for future share repurchases. The Corporation plans to repurchase at least $50 million of its common stock via a 10b5-1 program during the 2021 calendar year.
The following performance graph does not constitute soliciting material and should not be deemed filed or incorporated by reference into any of our other filings under the Securities Act or the Securities Exchange Act of 1934, except to the extent we specifically incorporate this information by reference therein.
PERFORMANCE GRAPH
The following graph compares the annual change in the cumulative total return on our common stock during the last five fiscal years with the annual change in the cumulative total return of the Russell 2000 Index and the S&P MidCap 400 Index. The graph assumes an investment of $100 on December 31, 2015 and the reinvestment of all dividends paid during the following five fiscal years.
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Company / Index 2015 2016 2017 2018 2019 2020
Curtiss-Wright Corp 100 144.45 179.93 151.53 210.17 174.80
S&P MidCap 400 Index 100 120.74 140.35 124.80 157.49 179.00
Russell 2000 100 121.31 139.08 123.76 155.35 186.36
Item 6. Selected Financial Data.
The following table presents our selected financial data from continuing operations. The table should be read in conjunction with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations , and Item 8, Financial Statements and Supplementary Data , of this Annual Report on Form 10-K.
Five-Year Financial Highlights
CONSOLIDATED SELECTED FINANCIAL DATA
(In thousands, except per share data) 2020 2019 2018 2017 2016
Net sales $ 2,391,336 $ 2,487,961 $ 2,411,835 $ 2,271,026 $ 2,108,931
Earnings from continuing operations 201,392 307,583 275,749 214,891 189,382
Total assets 4,021,334 3,764,261 3,255,385 3,236,321 3,037,781
Total debt, net 1,058,292 760,639 762,556 814,139 966,298
Earnings per share from continuing operations:
Basic $ 4.83 $ 7.20 $ 6.28 $ 4.86 $ 4.27
Diluted $ 4.80 $ 7.15 $ 6.22 $ 4.80 $ 4.20
Cash dividends per share $ 0.68 $ 0.66 $ 0.60 $ 0.56 $ 0.52