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
The common stock of LP is listed on the New York Stock Exchange with the ticker symbol “LPX.” As of February 14, 2025, there were approximately 3,243 stockholders of record of our common stock.
DIVIDEND POLICY
We paid quarterly cash dividends of $ 0.26 per share for each quarter of 2024. We paid quarterly cash dividends of $ 0.24 per share for each quarter of 2023. On February 14, 2025, we declared a quarterly dividend of $0.28 per share, payable on March 13, 2025, to stockholders of record as of the close of business on February 27, 2025. We will continue to review our ability to pay cash dividends on an ongoing basis, and the payment of dividends in the future is subject to the discretion of LP’s Board of Directors depending upon, among other factors, our financial condition, general market and business conditions, and legal and contractual restrictions on the payment of dividends, including compliance with the terms of our Credit Agreement.
ISSUER PURCHASES OF EQUITY SECURITIES
During May 2022 and May 2024, LP's Board of Directors authorized share repurchase programs under which LP was authorized to repurchase up to $ 600 million (the 2022 Share Repurchase Program) and $ 250 million (the 2024 Share Repurchase Program), respectively, of its outstanding common stock. As of December 31, 2024, LP had $238 million of repurchase authorization remaining under the 2024 Share Repurchase Program. LP may initiate, discontinue, or resume purchases of its common stock under the 2024 Share Repurchase Program in the open market, in block, or in privately negotiated transactions, including under Rule 10b5-1 plans, at times and in such amounts as management deems appropriate without prior notice, subject to market and business conditions, regulatory requirements, and other factors.
The following amount of our common stock was repurchased under this authorization during the quarter ended December 31, 2024:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Purchase Plans or Programs 1
Approximate Dollar Value of Shares Available for Repurchase Under the Plans or Programs
(in millions)
October 1, 2024 - October 31, 2024
— $ — — $ 262
November 1, 2024 - November 30, 2024
— $ — — $ 262
December 1, 2024 - December 31, 2024
219,662 $ 108.63 219,662 $ 238
Total for Fourth Quarter 2024
219,662 219,662
1 On May 3, 2022, LP’s Board of Directors authorized the 2022 Share Repurchase Program under which LP may repurchase shares of its common stock totaling up to $600 million. On May 7 , 2024, LP’s Board of Directors authorized the 2024 Share Repurchase Program under whi ch LP may repurchase shares of its common stock totaling up to $250 million.
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PERFORMANCE GRAPH
The following graph compares the cumulative total return to investors, including dividends paid (assuming reinvestment of dividends) and appreciation or depreciation in stock price, from an investment in LP common stock for the period from December 31, 2019 through December 31, 2024, to the total cumulative return to investors from the Standard & Poor’s 500 Stock Index and Standard & Poor’s Building Products Index for the same period. Stockholders are cautioned that the graph shows the returns to investors as of the dates noted and may not be representative of the returns for any other past or future periods.
The graph is not deemed to be “soliciting material” and is “furnished” and shall not be deemed to be “filed” with the SEC or incorporated by reference in any filing under Exchange Act or the Securities Act, except as shall be expressly set forth by specific reference in any such filing.
ITEM 6. (Reserved)