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, 2025, we had approximately 2,300 registered shareholders of our common stock, $1.00 par value.
DIVIDENDS
During 2024 and 2023, the Company paid quarterly dividends as follows:
2024 2023
Common Stock
First Quarter $ 0.20 $ 0.19
Second Quarter 0.21 0.20
Third Quarter 0.21 0.20
Fourth Quarter 0.21 0.20
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
The following table sets forth information regarding our equity compensation plans as of December 31, 2024, the end of our most recently completed fiscal year:
Plan category Number of securities to
be issued under equity compensation plans Weighted-average
fair value of outstanding equity-based awards 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 280,175 (a) $189.80 1,449,505 (b)
Equity compensation plans not approved by security holders None Not applicable Not applicable
(a) Consists of 251,273 shares issuable upon vesting of performance share units, restricted shares, restricted stock units, and shares to non-employee directors under the 2024 Omnibus Incentive Plan, and 28,902 shares issuable under the Employee Stock Purchase Plan.
(b) Consists of 990,839 shares available for share-based awards under the 2024 Omnibus Incentive Plan, and 458,666 shares remaining available for issuance under the Employee Stock Purchase Plan.
Issuer Purchases of Equity Securities
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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, 2024.
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 13,190 $347.85 468,554 $7,971,787
November 1 – November 30 10,789 $369.67 479,343 163,983,389
December 1 – December 31 286,728 $362.16 766,071 160,140,894
For the quarter ended December 31 310,707 $361.82 766,071 $160,140,894
In November 2024, the Corporation entered into two written trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company implemented these written trading plans in connection with its previously announced share repurchase programs. The first trading plan will include purchases in the total amount of $60 million executed equally over the course of calendar year 2025. This written trading plan will take effect on January 2, 2025 and will cease on December 31, 2025. The second trading plan includes potential purchases in the total amount of $100 million. The Company cannot predict when or if it will purchase any shares of common stock as such plan includes a price limit where the Company would not buy shares under the Rule 10b5-1 plan. This written trading plan will take effect on January 2, 2025 and will cease on December 31, 2025. The terms of the trading plans can be found in the Corporation's Form 8-K filed with the U.S. Securities and Exchange Commission on November 19, 2024.
In December 2024, the Corporation entered into a written trading plan under Rule 10b5-1 of the Exchange Act. The Company implemented this written trading plan in connection with its previously announced share repurchase programs. The trading plan includes purchases in the total amount of $100 million. The number of shares of Company common stock to be purchased on any purchase day will be up to the maximum daily target volume allowable under Rule 10b-18 of the Exchange Act. The Corporation completed the entire $100 million of repurchases under this trading plan prior to December 31, 2024.
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 S&P MidCap 400 Index and the S&P Aerospace & Defense Select Industry Index. The graph assumes an investment of $100 on December 31, 2019 and the reinvestment of all dividends paid during the following five fiscal years.
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Company / Index 2019 2020 2021 2022 2023 2024
Curtiss-Wright Corp 100 83.17 99.69 120.65 161.65 258.20
S&P MidCap 400 Index 100 113.66 141.80 123.28 143.54 163.54
S&P A&D Select Industry Index 100 106.45 109.35 104.16 129.25 159.71
Item 6. [Reserved]