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
Common Stock
Our common stock trades on the NYSE under the symbol "KNX". Prior to the completion of the 2017 Merger, shares of Swift Class A common stock traded on the NYSE under the symbol "SWFT" while shares of Knight common stock traded on the NYSE under the symbol "KNX."
Common Stock — As of December 31, 2021, we had 165,980,401 shares of common stock outstanding. On February 15, 2022, there were 37 holders of record of our common stock. Because many of our shares of common stock are held by brokers or other institutions on behalf of stockholders, we are unable to estimate the total number of individual stockholders represented by the record holders.
Dividend Policy
We have paid a quarterly cash dividend as Knight-Swift since December 27, 2017.
Our most recent dividend was declared in February of 2022 for $0.12 per share of common stock and is scheduled to be paid in March of 2022.
We currently expect to continue to pay comparable quarterly cash dividends in the future. Future payment of cash dividends, and the amount of any such dividends, will depend upon our financial condition, results of operations, cash requirements, tax treatment, and certain corporate law requirements, as well as other factors deemed relevant by our Board.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table shows our purchases of our common stock and the remaining amounts we are authorized to repurchase for each monthly period in the fourth quarter of 2021.
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value That May Yet be Purchased Under the Plans or Programs 1
October 1, 2021 to October 31, 2021 73,504 $ 47.80 73,504 $ 192,825,134
November 1, 2121 to November 30, 2021 — $ — — $ 192,825,134
December 1, 2021 to December 31, 2021 — $ — — $ 192,825,134
Total 73,504 $ 47.80 73,504 $ 192,825,134
1 On November 30, 2020, we announced that the Board approved the $250.0 million 2020 Knight-Swift Share Repurchase Plan, replacing the 2019 Knight-Swift Share Repurchase Plan. There is no expiration date associated with this share repurchase authorization. See Note 20 in Part II, Item 8 of this Annual Report.
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Stockholders Return Performance Graph
The following graph compares the cumulative annual total return of stockholders from December 31, 2016 to December 31, 2021 of our stock relative to the cumulative total returns of the NYSE Composite index and an index of other companies within the trucking industry ( NASDAQ Trucking & Transportation ) over the same period. The graph assumes that the value of the investment in Swift's common stock and in each of the indexes (including reinvestment of dividends) was $100 on December 31, 2016, and tracks it through December 31, 2021. The stock price performance included in this graph is not necessarily indicative of Knight-Swift's future stock price performance.
Note: The below investment in Knight-Swift Transportation Holdings Inc. was calculated using Swift's historical stock price (SWFT), adjusted for the reverse split of 0.72, for periods prior to the 2017 Merger and calculated using Knight-Swift Transportation Holdings Inc.'s historical stock price (KNX) for periods following the 2017 Merger.
December 31,
2016 2017 2018 2019 2020 2021
Knight-Swift Transportation Holdings Inc. $ 100.00 $ 129.40 $ 74.67 $ 107.53 $ 126.49 $ 185.72
NYSE Composite 100.00 118.73 108.10 135.68 145.16 175.18
NASDAQ Trucking & Transportation 100.00 123.35 110.84 133.75 137.58 165.72
ITEM 6. RESERVED
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KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.