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.
Dividend Information
Although we expect to continue to pay quarterly dividends, the payment of future cash dividends is within the discretion of our board of directors and will depend on our earnings, capital requirements and operating and financial condition, as well as excess availability under the credit agreement, among other factors.
Shareholders
Our common stock trades on the New York Stock Exchange under the trading symbol "LZB". We had approximately 1,816 registered holders of record of La-Z-Boy's common stock as of June 8, 2021. A substantially greater number of holders of La-Z-Boy common stock are "street name" or beneficial holders, whose shares of record are held by banks, brokers, and other financial institutions.
Performance Graph
The graph below shows the cumulative total return for our last five fiscal years that would have been realized (assuming reinvestment of dividends) by an investor who invested $100 on April 30, 2016, in our shares of common stock, in the S&P 500 Composite Index, and in the Dow Jones U.S. Furnishings Index.
Company/Index/Market 4/30/2016 4/29/2017 4/28/2018 4/27/2019 4/25/2020 4/24/2021
La-Z-Boy Incorporated $ 100.00 $ 109.50 $ 116.87 $ 131.56 $ 86.95 $ 180.07
S&P 500 Composite Index $ 100.00 $ 117.92 $ 134.66 $ 151.27 $ 148.91 $ 223.11
Dow Jones U.S. Furnishings Index $ 100.00 $ 112.05 $ 99.36 $ 83.44 $ 54.89 $ 137.50
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Our board of directors has authorized the repurchase of the Company's common stock. As of April 24, 2021, 3.4 million shares remained available for purchase pursuant to this authorization. We spent $44.2 million in fiscal 2021 to purchase 1.1 million shares.
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Table of Contents
The following table summarizes our purchases of Company stock during the fourth quarter of fiscal 2021:
(Amounts in thousands, except per share data) Total number of shares purchased (1) Average price paid per share Total number of shares purchased as part of publicly announced plan (2) Maximum number of shares that may yet be purchased under the plan
Fiscal February (January 24 - February 27, 2021) 376 $ 39.85 376 4,126
Fiscal March (February 28 - March 27, 2021) 681 $ 41.55 681 3,445
Fiscal April (March 28 - April 24, 2021) 1 $ 42.76 — 3,445
Fiscal Fourth Quarter of 2021
1,058 $ 40.95 1,057 3,445
(1) In addition to the 1,057,512 shares purchased during the quarter as part of our publicly announced director authorization described above, this column includes 450 shares purchased from employees to satisfy their withholding tax obligations upon vesting of restricted shares.
(2) On October 28, 1987, our board of directors announced the authorization of the plan to repurchase Company stock. The plan originally authorized 1.0 million shares, and since October 1987, 27.0 million shares were added to the plan for repurchase. The authorization has no expiration date.
Recent Sales of Unregistered Securities
There were no sales of unregistered securities during fiscal year 2021.
ITEM 6. SELECTED FINANCIAL DATA.
The Company has applied the amendment to Regulation S-K Item 301 which became effective on February 10, 2021.