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
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Market Information
Certain information with respect to this item is included in Notes 9 and 10 to the Company’s consolidated financial statements included elsewhere in this report. The Company’s Class A common stock is traded on the NASDAQ Global Select Market SM under the symbol: JOUT. There is no public market for the Company’s Class B common stock. However, the Class B common stock is convertible at all times at the option of the holder into shares of Class A common stock on a share for share basis. As of September 27, 2024, the Company had 388 holders of record of its Class A common stock and 19 holders of record of its Class B common stock. We believe the number of beneficial owners of our Class A common stock on that date was substantially greater.
A summary of the high and low closing prices for the Company’s Class A common stock during each quarter of the years ended September 27, 2024, September 29, 2023 and September 30, 2022 is as follows:
First Quarter Second Quarter Third Quarter Fourth Quarter
2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022
Stock prices:
High $ 54.94 $ 68.18 $ 115.87 $ 51.52 $ 71.49 $ 95.60 $ 45.63 $ 64.24 $ 82.48 $ 42.40 $ 60.13 $ 73.32
Low 44.69 46.93 92.82 42.95 58.93 77.44 33.70 56.53 59.04 33.15 52.01 50.54
Dividends
The Company’s Articles of Incorporation provide that no dividend, other than a dividend payable in shares of the Company’s common stock, may be declared or paid upon the Class B common stock unless such dividend is declared or paid upon both classes of common stock. Whenever a dividend (other than a dividend payable in shares of Company common stock) is declared or paid upon any shares of Class B common stock, at the same time there must be declared and paid a dividend on the shares of Class A common stock equal in value to 110% of the amount per share of the dividend declared and paid on the shares of Class B common stock. Whenever a dividend is payable in shares of Company common stock, such dividend must be declared or paid at the same rate on the Class A common stock and the Class B common stock.
Quarterly dividends declared in fiscal 2024 were $0.33 per share of Class A common stock, and $0.30 per share of Class B common stock. Total dividends declared in fiscal 2024 were $13,449. Cash dividends paid in fiscal 2024 totaled $13,431 and dividends payable of $3,364 were included in current liabilities at September 27, 2024.
While the Board of Directors of the Company presently intends to continue the payment of regular quarterly cash dividends on the Company’s common stock, they review the Company’s dividend quarterly and may elect to increase, decrease or not pay a dividend at any time. The Company’s ability to pay dividends could be affected by future business performance (including as a result of adverse developments in profitability, including reductions in margins, inflation and macroeconomic dynamics on our operations and cash flows), liquidity, capital needs, alternative investment opportunities and compliance with debt covenants in its loan agreements.
Total Shareholder Return
The graph below compares on a market cap weighted cumulative basis the yearly percentage change since September 27, 2019 in the total return (assuming reinvestment of dividends) to shareholders on the Class A common stock with (a) the total return (assuming reinvestment of dividends) on The NASDAQ Stock Market-U.S. Index; (b) the total return (assuming reinvestment of dividends) on the S&P Small Cap 600 Consumer Discretionary Index; and (c) the total return (assuming reinvestment of dividends) on a self-constructed peer group index. The Company’s peer group consists of Clarus Corporation, Brunswick Corporation, Callaway Golf Company, Escalade Inc., Garmin Ltd., Marine Products Corporation, Malibu Boats Inc. and BowFlex, Inc. BowFlex, Inc. was previously Nautilus, Inc, and has filed for bankruptcy. The graph and table below include data through its last trading day, August 23, 2024. The graph assumes $100 was invested on September 27, 2019 in the Company’s Class A common stock, The NASDAQ Stock Market-U.S. Index, the S&P Small Cap 600 Index, and the peer group index.
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* $100 invested on September 27, 2019 in stock or index, including reinvestment of dividends.
Indices calculated on a mid-month basis.
9/27/2019 10/2/2020 10/1/2021 9/30/2022 9/29/2023 9/27/2024
Johnson Outdoors Inc. $ 100.0 $ 148.4 $ 190.3 $ 90.3 $ 98.4 $ 67.6
NASDAQ Composite 100.0 140.9 186.5 136.4 172.1 237.6
S&P Small Cap 600 Consumer Discretionary Index 100.0 113.3 189.1 125.1 150.2 199.8
Peer Group 100.0 119.7 189.3 109.1 132.6 191.2
The information in this section titled “Total Shareholder Return” shall not be deemed to be “soliciting material” or “filed” with the Securities and Exchange Commission or subject to Regulation 14A or 14C promulgated by the Securities and Exchange Commission or subject to the liabilities of section 18 of the Securities Exchange Act of 1934, as amended, and this information shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
ITEM 6. RESERVED