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 Information
Our common stock is listed on the NYSE and NASDAQ under the symbol "FDS".
Holders of Record – As of October 20, 2023, we had approximately 2,093 holders of record of our common stock. However, because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.
Dividends - We paid four quarterly dividends during fiscal 2023. In the third quarter of fiscal 2023, we increased our quarterly cash dividend from $0.89 cents per share to $0.98 cents per share. Future dividend payments will depend on our earnings, capital requirements, financial condition and other factors we consider relevant, and is subject to final determination by our Board of Directors. Refer to Note 14, Stockholders' Equity , in the Notes to the Consolidated Financial Statements included in Part II, Item 8. of this Annual Report on Form 10-K for more information on our dividends.
Recent Sales of Unregistered Securities
There were no sales of unregistered equity securities during fiscal 2023.
Issuer Purchases of Equity Securities
The following table provides a month-to-month summary of the share repurchase activity during the three months ended August 31, 2023:
(in thousands, except share and per share data)
Period Total number
of shares
purchased (1)
Average
price paid per
share Total number of shares purchased as part of
publicly announced plans or programs (2)
Approximate dollar value of shares that may yet be
purchased under the plans or programs (2)
June 2023 91,470 $ 401.90 89,950 $ 78,010
July 2023 83,878 $ 411.90 83,000 $ 43,812
August 2023 92,544 $ 429.56 91,450 $ 4,534
267,892 264,400
(1) Includes 264,400 shares repurchased under the existing stock repurchase program, as well as 3,492 shares repurchased to satisfy withholding tax obligations due upon the vesting of stock-based awards.
(2) As of August 31, 2023, we had $4.5 million authorized under our share repurchase program for future share repurchases, which was not available for use after August 31, 2023. On June 20, 2023, our Board of Directors authorized up to $300 million for share repurchases on or after September 1, 2023. Repurchases may be made from time-to-time in the open market and via privately negotiated transactions, subject to market conditions. There is no defined number of shares to be repurchased over a specified timeframe through the life of our share repurchase program. It is expected that share repurchases will be paid using existing and future cash generated by operations. Refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, Liquidity and Capital Resources , of this Annual Report on Form 10-K for further discussion on our share repurchase program.
Trading Arrangements
On August 11, 2023, we entered into an agreement to adopt a trading arrangement for the repurchase of shares of our common stock in the open market consistent with the provisions of Rule 10b5-1 of the Securities Exchange Act of 1934. The arrangement provides for the repurchase of up to $250 million of our common stock during the period from September 1, 2023 through August 31, 2024 pursuant to a written algorithm for determining the amount, price and date for purchase of shares of our common stock.
Securities Authorized for Issuance under Equity Compensation Plans
Refer to Part III, Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, of this Annual Report on Form 10-K.
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Stock Performance Graph
The annual changes for the five-year period shown in the graph below assume $100 had been invested in our common stock, the Standard & Poor’s 500 Index, the Dow Jones U.S. Financial Services Index and the S&P 500 Financial Exchange and Data Index on August 31, 2018.
The total cumulative dollar returns shown on the graph represent the value that such investments would have had on August 31, 2023. Stockholder returns over the indicated period are based on historical data and should not be considered indicative of future stockholder returns.
2018 2019 2020 2021 2022 2023
FactSet Research Systems Inc. $ 100 $ 119 $ 153 $ 166 $ 189 $ 190
S&P 500 Index $ 100 $ 101 $ 121 $ 156 $ 136 $ 155
Dow Jones U.S. Financial Services Index $ 100 $ 96 $ 93 $ 139 $ 114 $ 117
S&P 500 Financial Exchanges and Data $ 100 $ 124 $ 144 $ 179 $ 147 $ 163
The information contained in the above graph shall not be deemed to be soliciting material or filed or incorporated by reference in future filings with the SEC, or subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, except to the extent that we specifically incorporate it by reference into a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.
ITEM 6. RESERVED
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