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
The NASDAQ Global Select Market (“NASDAQ”) is the principal market for our common stock, which is traded under the symbol "IDCC."
Holders
As of February 15, 2022, there were 473 holders of record of our common stock.
Dividends
Cash dividends on outstanding common stock declared in 2021 and 2020 were as follows (in thousands, except per share data):
2021 Per Share Total Cumulative by Fiscal Year
First quarter $ 0.35 $ 10,766 $ 10,766
Second quarter 0.35 10,794 21,560
Third quarter 0.35 10,740 32,300
Fourth quarter 0.35 10,741 43,041
$ 1.40 $ 43,041
2020
First quarter $ 0.35 $ 10,762 $ 10,762
Second quarter 0.35 10,781 21,543
Third quarter 0.35 10,782 32,325
Fourth quarter 0.35 10,786 43,111
$ 1.40 $ 43,111
In September 2017, we announced that our Board of Directors had approved an increase in the Company’s quarterly cash dividend to $0.35 per share. We currently expect to continue to pay dividends comparable to our quarterly $0.35 per share cash dividend in the future; however, continued payment of cash dividends and changes in the Company's dividend policy will depend on the Company's earnings, financial condition, capital resources and capital requirements, alternative uses of capital, restrictions imposed by any existing debt, economic conditions and other factors considered relevant by our Board of Directors.
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Performance Graph
The following graph compares five-year total shareholder return on common stock with the cumulative total returns of the NASDAQ Composite index, the NASDAQ Telecommunications index and the Russell 2000 index. The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from 12/31/2016 to 12/31/2021. We have historically presented the performance graph by comparing our cumulative total shareholder return against the cumulative total return of the NASDAQ Composite index and the NASDAQ Telecommunications index. We have decided to change from the NASDAQ Composite index to the Russell 2000 index as management believes the companies included in the Russell 2000 index are more comparable to us because of their more similar market capitalizations. Beginning with our Annual Report on Form 10-K for 2022, we will only present the cumulative total return of the NASDAQ Telecommunications index and the Russell 2000 index.
12/16 12/17 12/18 12/19 12/20 12/21
InterDigital, Inc. 100.00 84.65 75.15 63.05 72.06 86.83
NASDAQ Composite 100.00 129.64 125.96 172.17 249.51 304.85
Russell 2000 100.00 114.65 102.02 128.06 153.62 176.39
NASDAQ Telecommunications 100.00 128.15 99.14 117.73 129.57 132.63
The above performance graph shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or incorporated by reference into any filing of InterDigital under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
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Issuer Purchases of Equity Securities
Repurchase of Common Stock
The following table provides information regarding Company purchases of its common stock during fourth quarter 2021.
Period Total Number of Shares (or Units) Purchased (1) Average Price Paid Per Share (or Unit) Total Number of Shares (or Units) Purchases as Part of Publicly Announced Plans or Programs (2) Maximum Number (or Approximate Dollar Value) of Shares (or Units) That May Yet Be Purchased Under the Plans or Programs (3)
October 1, 2021 - October 31, 2021
95,937 $ 67.63 95,937 $ 41,974,275
November 1, 2021 - November 30, 2021
7,636 $ 66.71 7,636 $ 41,464,736
December 1, 2021 - December 31, 2021
— $ — — $ 41,464,736
Total 103,573 $ 67.56 103,573 $ 41,464,736
(1) Total number of shares purchased during each period reflects share purchase transactions that were completed (i.e., settled) during the period indicated.
(2) Shares were purchased pursuant to the Company’s $700 million share repurchase program (the “2014 Repurchase Program”), $300 million of which was authorized by the Company’s Board of Directors in June 2014, with an additional $100 million authorized by the Company’s Board of Directors in each of June 2015, September 2017, December 2018, and May 2019, respectively. The 2014 Repurchase Program has no expiration date. The Company may repurchase shares under the 2014 Repurchase Program through open market purchases, pre-arranged trading plans, or privately negotiated purchases.
(3) Amounts shown in this column reflect the amounts remaining under the 2014 Repurchase Program.
Item 6. [ RESERVED]