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.
Our Class A common stock and Class B common stock trade on the NASDAQ Global Select Market under the symbols “DGICA” and “DGICB,” respectively.
At the close of business on March 1, 2024, we had approximately 1,748 holders of
record of our Class A common stock and approximately 216 holders of record of our Class B common stock.
We declared dividends of $0.68 per share on our Class A common stock and $0.61 per share on our Class B common stock in 2023, compared to $0.66 per share on our Class A common stock and $0.59 per share on our Class B
common stock in 2022.
Unregistered Sales of Equity Securities and Use of Proceeds.
Between October 1, 2023 and December 31, 2023, Donegal Mutual purchased shares of our Class A common stock as set forth in the table below:
Period
(a) Total Number of Shares
(or Units) Purchased
(b) Average Price Paid per
Share (or Unit)
(c) Total Number of Shares
(or Units) Purchased as
Part of Publicly
Announced Plans or
Programs
(d) Maximum Number (or
Approximate Dollar Value)
of Shares (or Units) that
May Yet Be Purchased
Under the Plans or
Programs
Month #1
October 1-31, 2023
Class A – 13,545
Class B – None
Class A – $14.24
Class B – None
Class A – 13,545
Class B – None
(1)
Month #2
November 1-30, 2023
Class A – None
Class B – None
Class A – None
Class B – None
Class A – None
Class B – None
Month #3
December 1-31, 2023
Class A – None
Class B – None
Class A – None
Class B – None
Class A – None
Class B – None
Total
Class A – 13,545
Class B – None
Class A – $14.24
Class B – None
Class A – 13,545
Class B – None
(1)
Donegal Mutual purchased these shares pursuant to its disclosure on April 29, 2022 that it will, at its discretion, purchase shares of our Class A common stock and Class B common stock at market prices prevailing from time to
time in the open market subject to the provisions of SEC Rule 10b-18 and in privately negotiated transactions. Such disclosure did not stipulate a maximum number of shares that may be purchased under this program.
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Index
Stock Performance Chart.
The following graph provides an indicator of cumulative total stockholder returns on our Class A common stock and our Class B common stock for the period beginning on December 31, 2018 and ending on December 31, 2023,
compared to the Russell 2000 Index and a peer group comprised of six property and casualty insurance companies over the same period. The peer group consists of Cincinnati Financial Corp., Hanover Insurance Group Inc., Horace Mann Educators Corp.,
Kemper Corp., Selective Insurance Group Inc. and United Fire Group Inc. The graph shows the change in value of an initial $100 investment on December 31, 2018, assuming reinvestment of all dividends.
2018
2019
2020
2021
2022
2023
Donegal Group Inc. Class A
$100.00
$113.15
$108.55
$118.71
$123.52
$127.47
Donegal Group Inc. Class B
100.00
112.41
150.58
128.76
162.04
150.99
Russell 2000
100.00
125.52
113.73
172.90
137.56
160.85
Peer Group
100.00
125.90
132.70
132.95
128.52
131.56
Research Data Group prepared the foregoing performance graph and data. The performance graph and accompanying data shall not be deemed “filed” as part of this Form 10-K Report for purposes of Section 18 of the Exchange
Act or otherwise subject to the liabilities of that section and should not be deemed incorporated by reference into any other filing we make under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent we
specifically incorporate the performance graph and accompanying data by reference into such filing.
Item 6.
[Reserved]
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Index