Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Market Information and Dividends
Our Class A and Class B common stock is traded on the NASDAQ Global Market under the symbols “KELYA” and “KELYB,” respectively. The high and low selling prices for our Class A common stock and Class B common stock as quoted by the NASDAQ Global Market and the dividends paid on the common stock for each quarterly period in the last two fiscal years are reported in the table below. Our ability to pay dividends is subject to compliance with certain financial covenants contained in our debt facilities, as described in the Debt footnote in the notes to our consolidated financial statements.
Per share amounts (in dollars)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year
2020
Class A common
High $ 22.77 $ 18.18 $ 19.89 $ 23.00 $ 23.00
Low 10.13 11.01 13.55 15.56 10.13
Class B common
High 21.78 18.14 90.36 22.70 90.36
Low 10.52 10.35 14.04 15.50 10.35
Dividends 0.075 — — — 0.075
2019
Class A common
High $ 25.63 $ 26.39 $ 28.91 $ 25.09 $ 28.91
Low 20.00 22.03 23.50 20.74 20.00
Class B common
High 24.68 25.49 29.43 23.46 29.43
Low 20.91 25.49 23.59 20.66 20.66
Dividends 0.075 0.075 0.075 0.075 0.30
Holders
The number of holders of record of our Class A and Class B common stock were approximately 8,700 and 200, respectively, as of January 29, 2021.
Recent Sales of Unregistered Securities
None.
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Issuer Purchases of Equity Securities
During the fourth quarter of 2020, we reacquired shares of our Class A common stock as follows:
Period Total Number
of Shares
(or Units)
Purchased
Average
Price Paid
per Share
(or Unit)
Total Number
of Shares (or
Units) Purchased
as Part of Publicly
Announced Plans
or Programs
Maximum Number
(or Approximate
Dollar Value) of
Shares (or Units)
That May Yet Be
Purchased Under the
Plans or Programs
(in millions of dollars)
September 28, 2020 through November 1, 2020 527 $ 17.89 — $ —
November 2, 2020 through November 29, 2020 210 20.66 — —
November 30, 2020 through January 3, 2021 573 20.67 — —
Total 1,310 $ 19.55 —
We may reacquire shares sold to cover employee tax withholdings due upon the vesting of restricted stock held by employees. Accordingly, 1,310 shares were reacquired during the Company’s fourth quarter.
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Performance Graph
The following graph compares the cumulative total return of our Class A common stock with that of the S&P SmallCap 600 Index and the S&P 1500 Human Resources and Employment Services Index for the five years ended December 31, 2020. The graph assumes an investment of $100 on December 31, 2015 and that all dividends were reinvested.
COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN
Assumes Initial Investment of $100
December 31, 2015 – December 31, 2020
2015 2016 2017 2018 2019 2020
Kelly Services, Inc. $ 100.00 $ 144.09 $ 173.74 $ 132.06 $ 147.41 $ 134.81
S&P SmallCap 600 Index $ 100.00 $ 126.56 $ 143.30 $ 131.15 $ 161.03 $ 179.20
S&P 1500 Human Resources and Employment Services Index $ 100.00 $ 109.44 $ 139.30 $ 116.64 $ 143.22 $ 144.43
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