Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
The Company’s Cla ss A common stock is traded on the New York Stock Exchange under the symbol EPAC. As of September 30, 2020, there were 1,165 shareh olders of record of the Company's Class A common stock.
Dividends
In fiscal 2020, the Company declared a dividend of $0.04 per common share payable on October 19, 2020 to shareholders of record on October 2, 2020. In fiscal 2019, the Company declared a dividend of $0.04 per common share payable on October 14, 2019 to shareholders of record on September 27, 2019.
Share Repurchases
The Company's Board of Directors has authorized the repurchase of shares of the Company's common stock under publicly announced share repurchase programs. Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 22,799,230 shares of common stock for $668 million with 5,200,770 shares remaining authorized for additional repurchases under the program. There were no share repurchases during the fourth quarter of fiscal 2020
Securities Authorized for Issuance under Equity Compensation Plans
The information required by Item 201(d) of Regulation S-K is provided under Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters , which is incorporated herein by reference.
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Performance Graph:
The graph below compares the cumulative 5-year total return of the Company's Class A common stock with the cumulative total returns of the S&P 500 index, the Russell 2000 Index, the Dow Jones US Diversified Industrials index and the S&P 600 Industrial index. Prior to the divestiture of our EC&S segment, we benchmarked results of the Company to the S&P 500 index and the Dow Jones USD Diversified Industrials index. However, in light of the divestiture and our focus as a pure-play industrial tools and services company, we now benchmark ourselves against the Russell 2000 Index and the S&P Industrial 600 index. The graph tracks the performance of a $100 investment in our Class A common stock and in each of the indexes (assuming the reinvestment of all dividends) from August 31, 2015 to August 31, 2020.
*$100 Invested on 8/31/15 in stock or index, including reinvestment of dividends.
Fiscal year ending August 31.
Copyright© 2020 Standard & Poor's, a division of S&P Global. All rights reserved.
Copyright© 2020 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved.
Copyright© 2020 Russell Investment Group. All rights reserved.
8/15 8/16 8/17 8/18 8/19 8/20
Enerpac Tool Group Corp. $ 100.00 $ 111.40 $ 112.62 $ 138.13 $ 104.32 $ 97.88
S&P 500 100.00 112.55 130.82 156.55 161.12 196.47
Russell 2000 100.00 108.59 124.79 156.54 136.36 144.57
Dow Jones US Diversified Industrials 100.00 126.55 125.11 112.14 100.90 102.78
S&P 600 Industrial 100.00 112.40 120.50 153.72 128.98 133.43
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
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Item 6. Selected Financial Data
The following selected historical financial data have been derived from the consolidated financial statements of the Company. The data should be read in conjunction with these financial statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
Year Ended August 31,
2020 2019 2018 2017 2016
(in millions, except per share data)
Statement of Operations Data (1)(2) :
Net sales $ 493 $ 655 $ 641 $ 617 $ 687
Gross profit 217 293 283 261 291
Selling, administrative and engineering expenses 181 209 210 208 203
Amortization of intangible assets 8 9 9 9 11
Director & officer transition charges — — — 8 —
Restructuring charges 7 4 11 3 9
Impairment & divestiture (benefit) charges (3) 23 3 117 130
Operating profit (loss) 24 48 50 (84) (62)
Earnings (loss) 6 8 5 (95) (62)
Diluted earnings (loss) per share $ 0.09 $ 0.13 $ 0.08 $ (1.60) $ (1.05)
Cash dividends per share declared $ 0.04 $ 0.04 $ 0.04 $ 0.04 $ 0.04
Diluted weighted average common shares 60,269 61,607 61,028 59,436 59,010
Balance Sheet Data (at end of period) (2) :
Cash $ 152 $ 211 $ 250 $ 230 $ 180
Assets 824 1,124 1,485 1,517 1,439
Debt 255 460 533 562 580
Net debt (Debt less Cash) 103 249 283 332 400
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(1) Results are from continuing operations and exclude the financial results of businesses classified as "Assets from discontinued operations" and "Liabilities from discontinued operations" on the Consolidated Balance Sheets and of previously divested businesses reported as discontinued operations.
(2) We have completed various acquisitions and divestitures that impact the comparability of the selected financial data specifically related to earnings (loss) from continuing operations. The results of operations for these acquisitions and divestitures are included in our financial results for all periods subsequent to their acquisition or prior to their divestiture date. The following tables summarize the acquisitions and divestitures that were completed during the last five fiscal years (amounts in millions):
Acquisition Segment Date Completed Sales (a)
Purchase Price
HTL Group Industrial Tools & Services January 2020 $ 18 $ 33
Equalizer Industrial Tools & Services May 2018 6 6
Mirage Machines Industrial Tools & Services December 2017 12 17
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(a) Represents approximate annual sales at the time of the acquisition.
Divestiture (b)
Segment Date Completed Sales (c)
Proceeds from Sale
Milwaukee Cylinder/UNI-LIFT Product Line Industrial Tools & Services December 2019 $ 13 $ 8
Connectors Product Line Industrial Tools & Services October 2019 $ 5 $ 3
Viking Business Other December 2017 $ 19 $ 9
(b) Divestiture of the EC&S Segment is not included in the table as it is classified as Discontinued Operations within the Consolidated Financial Statements.
(c) Represents annual sales in fiscal year prior to divestiture.
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