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 and dividend information
Our common stock is traded on the New York Stock Exchange ("NYSE") under the symbol "MITT." As of February 17, 2023, there were 21,208,757 shares of common stock outstanding and approximately 37 registered holders of our common stock. The 37 holders of record include Cede & Co., which holds shares as nominee for The Depository Trust Company, which itself holds shares on behalf of the beneficial owners of our common stock. Such information was obtained through our registrar and transfer agent, based on the results of a broker search.
The following tables set forth, for the periods indicated, the high and low sale price of our common stock as reported on the NYSE and the dividends declared per share of our common stock. All per share amounts below have been adjusted to reflect the one-for-three reverse stock split effected July 22, 2021.
Year Ended December 31, 2022
Year Ended December 31, 2021
High Sales Price Low Sales Price High Sales Price Low Sales Price
First Quarter $ 10.68 $ 8.48 $ 14.88 $ 8.31
Second Quarter 9.42 6.15 14.85 10.61
Third Quarter 8.39 4.05 13.05 9.81
Fourth Quarter 6.53 3.52 13.49 9.94
Year Ended December 31, 2022
Year Ended December 31, 2021
Declaration Date Record Date Payment Date Cash Dividend Per Share Declaration Date Record Date Payment Date Cash Dividend Per Share
3/18/2022 3/31/2022 4/29/2022 $ 0.21 3/22/2021 4/1/2021 4/30/2021 $ 0.18
6/15/2022 6/30/2022 7/29/2022 0.21 6/15/2021 6/30/2021 7/30/2021 0.21
9/15/2022 9/30/2022 10/31/2022 0.21 9/15/2021 9/30/2021 10/29/2021 0.21
12/19/2022 12/30/2022 1/31/2023 0.18 12/15/2021 12/31/2021 1/31/2022 0.21
Total $ 0.81 Total $ 0.81
Although we intend to continue to declare quarterly dividends, no assurances can be made as to the amount of any future dividend. We have not established a minimum dividend payment level and our ability to pay dividends may be adversely affected for the reasons described under the caption "Risk Factors," among others. The declaration of any future dividends by us is within the discretion of our Board of Directors and will be dependent upon, among other things, our earnings, our financial condition, Maryland law, and our capital requirements, as well as any other factor deemed relevant by our Board of Directors. Two principal factors in determining the amounts of dividends are (i) the requirement of the Code that a real estate investment trust distribute to shareholders at least 90% of its real estate investment trust taxable income and (ii) the amount of our available cash.
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Repurchase Program
On August 3, 2022, the Company’s Board of Directors authorized a stock repurchase program to repurchase up to $15.0 million of the Company's outstanding common stock. The Board's authorization does not have an expiration date. The following table presents information related to our purchases of common stock pursuant to our stock repurchase program during the quarter ended December 31, 2022:
Period (1) Total Number of Shares Purchased Weighted Average Price Paid per Share (2) Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Approximate Dollar Value that May Yet Be Purchased Under the Program (2)
October 1, 2022 to October 31, 2022 74,187 $ 4.32 74,187 $ 12,340,308
November 1, 2022 to November 30, 2022 348,507 5.59 348,507 10,393,064
December 1, 2022 to December 30, 2022 430,233 5.99 430,233 7,817,003
Total 852,927 $ 5.68 852,927 $ 7,817,003
(1) Based on trade date.
(2) Includes brokerage commissions and clearing fees.
ITEM 6. RESERVED