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 and Holders
The Company’s common stock trades on the NYSE under the symbol “KVUE”. As of February 23, 2024, there were 1,914,581,851 shares of common stock outstanding, with 3,149 shareholders of record.
Dividends
Quarterly dividends have been paid since the Kenvue IPO. A summary of cash dividends per share on the outstanding Kenvue common stock declared to shareholders by our Board and paid during the fiscal twelve months ended December 31, 2023 is presented below:
Declaration Date
Record Date
Payment Date
Per Share Amount
July 20, 2023 August 28, 2023 September 7, 2023 $0.20
October 26, 2023 November 8, 2023 November 22, 2023 $0.20
On January 25, 2024, the Company announced that our Board declared a dividend payable in the first quarter of fiscal year 2024 of $0.20 per share on the Company’s common stock. The first quarter dividend was payable on February 28, 2024 to shareholders of record as of the close of business on February 14, 2024.
Kenvue expects to continue to pay cash dividends on a quarterly basis. However, the declaration of dividends is subject to the discretion of our Board.
Securities Authorized for Issuance under Equity Compensation Plans
For information relating to securities authorized for issuance under equity compensation plans, see Part III, Item 12 of this Form 10-K.
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Share Performance Graph
The following graph compares cumulative total shareholder return on the Company’s common stock against the Standard & Poor’s (“S&P”) 500 Stock Index and the S&P’s Consumer Staples Stock Index from May 4, 2023 (the first day our common stock began trading on the NYSE) through December 31, 2023. The graph assumes that $100 was invested on May 4, 2023 in each of the Company’s common stock, the S&P’s 500 Stock Index, and the S&P’s Consumer Staples Sector and that all dividends were reinvested.
Company/Stock Index
May 4, 2023 July 2, 2023 October 1, 2023 December 31, 2023
Kenvue Inc. $ 100.00 $ 98.22 $ 75.36 $ 81.61
S&P 500 Stock Index
$ 100.00 $ 109.58 $ 105.59 $ 117.45
S&P 500 Consumer Staples Stock Index
$ 100.00 $ 97.76 $ 91.30 $ 95.69
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
During the third quarter of fiscal year 2023, our Board authorized a share repurchase program, under which we are authorized to repurchase up to 27 million shares of our outstanding common stock in open market or privately negotiated transactions. The program has no expiration date and may be suspended or discontinued at any time. The intent of this repurchase program is to offset dilution from the vesting or exercise of equity awards under our equity incentive plan.
The following table represents our purchases of common stock during the fiscal twelve months ended December 31, 2023:
(Shares in Thousands)
Period
Total Number of Shares Purchased
Average Price Paid Per Common Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Program
Approximate Number of Shares that May Yet Be Purchased Under the Plans or Programs
October 1 - October 31
— $ — — 27,000
November 1 - November 30
— $ — — 27,000
December 1 - December 31
350 $ 20.47 350 26,650
Total 350
Item 6. [Reserved]
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