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 NYSE under the ticker symbol "DD."
During 2022 and 2021, the Company paid quarterly dividends on its common stock of $0.33 and $0.30 per share, respectively.
The DuPont Board of Directors on February 6, 2023, declared a first quarter 2023 dividend of $0.36 per share, a 9 percent per share increase versus the first quarter 2022 dividend. The first quarter 2023 dividend is payable on March 15, 2023, to holders of record at the close of business on February 28, 2023. The Company expects to continue to pay quarterly dividends, although each dividend is subject to the approval of the Company's Board of Directors.
At January 31, 2023, there were 67,943 stockholders of record.
See Part III, Item 11. Executive Compensation for information relating to the Company’s equity compensation plans.
Issuer Purchases of Equity Securities
The following table provides information regarding purchases of the Company's common stock by the Company during the three months ended December 31, 2022:
Issuer Purchases of Equity Securities Total number of shares purchased as part of the Company's publicly announced share repurchase program Approximate dollar value of shares that may yet be purchased under the Company's publicly announced share
repurchase program
(In millions)
Period Total number of shares purchased Average price paid per share
2022 Share Buyback Program
October — $ — — $ 250
November 1, 2
3,729,673 $ 67.03 3,729,673 $ —
December — $ — — $ —
$5B Share Buyback Program
October — $ — — $ —
November 2
35,058,929 67.03 35,058,929 2,000
December 2
— — $ — 2,000
Fourth Quarter 2022 38,788,602 $ 67.03 38,788,602 $ 2,000
1. The Company completed the 2022 Share Buyback Program as part of the initial deliveries of shares under the 2022 ASR Agreements.
2. In accordance with the terms of the 2022 ASR Agreements, which terminate on or about September 1, 2023. DuPont received initial deliveries in November 2022 of 38.8 million shares of common stock in the aggregate. The final number of shares to be repurchased will be based on the volume-weighted average stock price for DuPont common stock during the terms of the 2022 ASR Agreements less an agreed upon discount.
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Stockholder Return
The form of the chart presented below is in accordance with the requirements of the U.S. Securities and Exchange Commission. Stockholders are cautioned against drawing any conclusions from the data contained therein, as past results are not necessarily indicative of future performance. The chart illustrates the cumulative total return of the Company's stock based on a presumed investment of $100 on December 31, 2017 and a presumption that all dividends were reinvested. The historical stock prices of DuPont presented in the chart have been adjusted to reflect the impact of the DWDP Distributions and the Reverse Stock Split. The Company elected to display the closing price on May 31, 2019, the day preceding the Corteva Distribution, in order to provide the reader a more useful baseline for the Company's performance as a specialty products company after consummation of the DWDP Distributions. The chart does not reflect the Company's forecast of future financial performance.
In 2022, the Company elected to change the relative benchmark group from S&P Industrial Conglomerates Index to S&P Industrials Index in order to include companies that are more aligned with DuPont following the M&M Divestiture. Accordingly, the Company will begin comparing the cumulative total return of DuPont to the cumulative total return of both the S&P 500 Index and the S&P Industrials Index in the following graph. S&P Industrial Conglomerates Index was included for this fiscal year only for comparative purposes to prior fiscal year graphs.
Cumulative Total Return December 31, 2017 December 31, 2018 May 31, 2019 1
December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022
DuPont $ 100.00 $ 76.84 $ 65.95 $ 66.12 $ 74.92 $ 86.45 $ 74.88
S&P 500 $ 100.00 $ 95.62 $ 105.88 $ 125.72 $ 148.85 $ 191.58 $ 156.89
S&P Industrials 2
$ 100.00 $ 86.71 $ 97.59 $ 112.17 $ 124.59 $ 150.89 $ 142.63
S&P Industrial Conglomerates 3
$ 100.00 $ 73.12 $ 81.92 $ 91.49 $ 100.89 $ 106.15 $ 97.23
1. Represents the day preceding the Corteva Distribution.
2. New index added in 2022
3. Included for this fiscal year only for comparative purposes to prior fiscal year graphs.
ITEM 6. RESERVED
Not applicable.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.