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There were 1,646 stockholders of record as of December 31, 2021.
−Removed: The declaration and amount of any dividends to holders of our common stock will be at the discretion of our board of directors and will depend upon many factors, including our financial condition, earnings, cash flows, capital requirements of our business, covenants associated with our debt obligations, legal requirements, regulatory constraints, industry practice and other factors the board of directors deems relevant.
+Added: The declaration and amount of any dividends to holders of our common stock will be at the discretion of our board of directors and will depend upon many factors, including our financial condition, earnings, cash flows, capital requirements of our business, covenants associated with our debt obligations, legal requirements, regulatory constraints, industry practice and other factors the board of directors deem relevant.
We are a holding company and have no direct operations.
As a result, we are able to pay dividends on our common stock only from available cash on hand and distributions received from our subsidiaries.
−Removed: We declared and paid a quarterly dividend of $0.25 per share, or $1.00 annually, in the fourth quarter of 2020 and expects to continue quarterly payments at the same rate for the near future.
−Removed: Dividends were not paid in any previous year.
+Added: We declared and paid a total of $1.04 per share in dividends during 2021 and paid a $0.25 per share dividend in 2020 and expect to continue quarterly dividend payments for the near future.
The indenture governing the Senior Notes and the credit agreement governing our credit facilities and term loan contain restrictive covenants that limit, among other things, the ability of Murphy USA and the restricted subsidiaries to make certain restricted payments, which as defined under both agreements, include the declaration or payment of any dividends of any sort in respect of its capital stock and repurchase of shares of our common stock.
−Removed: See “Management's Discussion and Analysis of Financial Condition and Operating Results—Capital Resources and Liquidity—Debt” and Note 7 “Long-Term Debt” and Note 21 "Subsequent Events" to the accompanying audited consolidated financial statements for the three years ended December 31, 2020 for additional information.
−Removed: On July 24, 2019, the Board of Directors approved an up to $400 million share repurchase program to be executed over the two-year period ending July 2021.
−Removed: This repurchase plan was completed in November 2020, and a new authorization of $500 million, announced October 28, 2020, is now in effect.
−Removed: During 2020, total purchases under the two plans were 3,338,028 common shares for $399.6 million, or $119.70 per share.
−Removed: Purchases made under the July 2019 authorization in 2020 were 2,368,374 common shares for $274.6 million, or $115.93 per share and under the October 2020 authorization 969,654 common shares were purchased for $125.0 million, or $128.91 per share, leaving approximately $375.0 million remaining available, as of December 31, 2020, through December 2023.
+Added: See “Management's Discussion and Analysis of Financial Condition and Operating Results—Capital Resources and Liquidity—Debt” and Note 9 “Long-Term Debt” to the accompanying audited consolidated financial statements for the three years ended December 31, 2021 for additional information.
+Added: On October 28, 2020, the Board of Directors approved an up to $500 million share repurchase program.
+Added: During 2021, purchases under the October 2020 authorization were 2,398,477 common shares for $355.0 million, for an average price of $148.00 per share.
+Added: Purchases made in 2020 under the October 2020 authorization were 969,654 common shares for $125.0 million, for an average of $128.91 per share.
+Added: At December 31, 2021, we had approximately $20.0 million remaining under the October authorization which we utilized in full in January 2022.
+Added: In December 2021, the Company announced an additional authorization to repurchase shares of up to $1 billion in common shares by December 31, 2026, which became available to use once the October 2020 authorization completed.
Below is detail of the company's purchases of its own equity securities during the fourth quarter of 2021.
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1 Terms of the repurchase plan authorized by the Murphy USA Inc.
−Removed: Board of Directors and announced on July 31, 2019 include authorization for the Company to acquire up to $400 million of its common shares by July 31, 2021.
−Removed: The July 2019 authorization was completed in November 2020 and a new authorization of $500 million was announced on October 28, 2020.
+Added: Board of Directors and announced on October 28, 2020 include authorization for the Company to acquire up to $500 million of its common shares by December 31, 2023.
+Added: A new authorization of $1 billion was announced on December 1, 2021, to begin upon the completion of the 2020 plan.
Equity Compensation Plan Information
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.