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
Market for Our Common Stock
The Company’s common stock trades on the Nasdaq Global Select Market under the symbol “EFSC.” As of February 24, 2022, the Company had 1,776 registered shareholders of common stock. The number of holders of record does not represent the actual number of beneficial owners of our common stock because securities dealers and others frequently hold shares in “street name” for the benefit of individual owners who have the right to vote shares.
Dividends
The Company paid quarterly cash dividends in 2021 and 2020 and anticipates continuing to pay comparable dividends. Total dividends paid were $0.75 in 2021 and $0.72 in 2020. However, we have no obligation to pay dividends and we may change our dividend policy at any time without notice to our shareholders.
Our ability to pay dividends is substantially dependent upon the ability of our subsidiaries to pay cash dividends to us. Information on regulatory restrictions on our ability to pay dividends is set forth in “Part I, Item 1. Business - Supervision and Regulation - Financial Holding Company - Dividend Restrictions and Share Repurchases.” The amount of dividends, if any, that may be declared by the Company also depends on many other factors, including future earnings, bank regulatory capital requirements and business conditions as they affect the Company and its subsidiaries. As a result, no assurance can be given that dividends will be paid in the future with respect to our common stock.
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Recent Sales of Unregistered Securities and Use of Proceeds
None.
Issuer Purchases of Equity Securities
Period Total number of shares purchased Weighted-average price paid per share Total number of shares purchased as part of publicly announced plans or programs (a) Maximum number of shares that may yet be purchased under the plans or programs (a)
October 1 - 31, 2021 — $ — — 1,277,951
November 1- 30, 2021 192,398 47.44 192,398 1,085,553
December 1- 31, 2021 385,080 47.76 385,080 700,473
Total 577,478 $ 47.65 577,478
(a) In April 2021, the Company’s board of directors authorized the repurchase of up to two million shares of the Company’s common stock. The repurchases may be made from time to time in the open market or through privately negotiated transactions.
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Stock Performance Graph
The following graph compares the cumulative total shareholder return on the Company’s common stock from December 31, 2016 through December 31, 2021. The graph compares the Company’s common stock with the Nasdaq Composite Index (U.S. companies) and the S&P Regional Banks Select Industry Index, which is a new index in 2021. Prior to 2021, the Company used the SNL Bank $5B-$10B Index, which has not been included in the performance graph due to its retirement in August 2021.
The graph assumes an investment of $100.00 in the Company’s common stock and each index at the respective closing price on December 31, 2016 and reinvestment of all quarterly dividends. The investment is measured as of each subsequent fiscal year end. There is no assurance that the Company’s common stock performance will continue in the future with the same or similar results as shown in the graph.
Period Ending December 31,
Index 2016 2017 2018 2019 2020 2021
Enterprise Financial Services Corp $ 100.00 $ 106.10 $ 89.28 $ 116.05 $ 86.18 $ 117.97
Nasdaq Composite Index $ 100.00 $ 129.64 $ 125.96 $ 172.18 $ 249.51 $ 304.85
S&P Regional Banks Select Industry Index $ 100.00 $ 107.95 $ 87.69 $ 111.92 $ 103.98 $ 145.47
*Source: S&P Global Market Intelligence. Used with permission. All rights reserved.
ITEM 6: [RESERVED]
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