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
Share Price, Earnings and Dividends Summary
MillerKnoll, Inc.'s common stock is traded on the Nasdaq Global Select Market System (Symbol: MLKN). As of July 17, 2023, there were approximately 36,000 shareholders of record, including individual participants in security position listings, of the Company's common stock.
Dividends were declared and paid quarterly for fiscal 2023 as approved by the Board of Directors . On April 18, 2023, the Company's Board of Directors approved a quarterly cash dividend of 18.75 cents ($0.1875) per share that was paid on July 15, 2023, to shareholders of record on June 3, 2023. While it is anticipated that the Company will contin ue to pay quarterly cash dividends, the amount and timing of such dividends is subject to the discretion of the Board depending on the Company's future results of operations, financial condition, capital requirements and other relevant factors.
Issuer Purchases of Equity Securities
The Company has one share repurchase plan authorized by the Board of Directors on January 16, 2019, which provides a share repurchase authorization of $250.0 million with no specified expiration date. The approximate dollar value of shares available for purchase under the plan at June 3, 2023 was $204.5 million.
The following is a summary of share repurchase activity during the fiscal quarter ended June 3, 2023:
Period (a) Total Number of Shares Purchased (b) Average Price Paid per Share (c ) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (d) Approximate Dollar Value of Shares that may yet be Purchased Under the Plans or Programs (in millions) (1)
3/5/23-4/1/23 1,560 $ 20.85 1,560 $ 204.6
4/2/23-4/29/23 — — — —
4/30/23-6/3/23 5,989 $ 16.15 5,989 $ 204.5
Total 7,549 7,549
(1) Amounts are as of the end of the period indicated
The Company may repurchase shares from time to time for cash in open market transactions, privately negotiated transactions, pursuant to accelerated share repurchase programs or otherwise in accordance with applicable federal securities laws. The timing and amount of the repurchases will be determined by the Company's management based on their evaluation of market conditions, share price and other factors. The share repurchase program may be suspended or discontinued at any time.
During the period covered by this report, the Company did not sell any shares of common stock that were not registered under the Securities Act of 1933.
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Stockholder Return Performance Graph
Set forth below is a line graph comparing the yearly percentage change in the cumulative total stockholder return on the Company's common stock with that of the cumulative total return of the Standard & Poor's 500 Stock Index and the Nasdaq Composite Total Return for the five-year period ended June 3, 2023. The graph assumes an investment of $100 on June 2, 2018 in the Company's common stock, the Standard & Poor's 500 Stock Index and the Nasdaq Composite Total Return, with dividends reinvested.
2018 2019 2020 2021 2022 2023
MillerKnoll, Inc. $ 100 $ 110 $ 74 $ 155 $ 102 $ 50
S&P 500 Index 100 101 111 154 152 157
Nasdaq Composite Total Return 100 100 128 187 166 179
Information required by this item is also contained in Item 12 of this report.
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Item 6 [Reserved]
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