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 4, 2025, there were 389 holders of record of our common stock.
Dividends
Cash dividends on outstanding common stock declared in 2024 and 2023 were as follows (in thousands, except per share data):
2024 Per Share Total Cumulative by Fiscal Year
First quarter $ 0.40 $ 10,155 $ 10,155
Second quarter 0.40 10,052 20,207
Third quarter 0.45 11,366 31,573
Fourth quarter 0.45 11,557 43,130
$ 1.70 $ 43,130
2023
First quarter $ 0.35 $ 9,449 $ 9,449
Second quarter 0.35 9,273 18,722
Third quarter 0.40 10,348 29,070
Fourth quarter 0.40 10,226 39,296
$ 1.50 $ 39,296
We increased the quarterly cash dividend by $0.05 per share in both 2023 and 2024 to raise the dividend payable from $0.35 to $0.45 per share. In February 2025, we announced an additional increase in the quarterly cash dividend by $0.15 per share, beginning with the quarterly dividend payable in second quarter 2025. We currently expect to continue to pay dividends in accordance with our dividend policy; 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 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 12/31/2019 to 12/31/2024.
12/19 12/20 12/21 12/22 12/23 12/24
InterDigital, Inc. 100.00 114.30 137.72 97.43 217.89 394.45
Russell 2000 100.00 119.96 137.74 109.59 128.14 142.93
Nasdaq Telecommunications 100.00 110.08 112.44 82.21 90.96 103.21
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 2024.
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, 2024 - October 31, 2024
— $ — — $ 229,532,849
November 1, 2024 - November 30, 2024
— $ — — $ 229,532,849
December 1, 2024 - December 31, 2024
— $ — — $ 229,532,849
Total — $ — —
(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 share repurchase program (the “Share 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, May 2019, and May 2022, respectively, an additional $333 million in December 2022, and an additional $235 million in December 2023. The Share Repurchase Program has no expiration date.
(3) Amounts shown in this column reflect the amounts remaining under the Share Repurchase Program at the end of the period.
Item 6. [ RESERVED]