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
Our common stock trades on The NASDAQ Global Select Market under the symbol LANC.
The number of shareholders of record as of August 1, 2022 was approximately 680. This is not the actual number of beneficial owners of our common stock, as shares are held in “street name” by brokers and others on behalf of individual owners.
We have increased our regular cash dividends for 59 consecutive years. Future dividends will depend on our earnings, financial condition and other factors.
The information regarding compensation plans under which equity securities are authorized for issuance is incorporated by reference to the information contained in our definitive proxy statement for our November 2022 Annual Meeting of Shareholders to be filed with the SEC pursuant to Regulation 14A promulgated under the Exchange Act.
Issuer Purchases of Equity Securities
In November 2010, our Board of Directors approved a share repurchase authorization of 2,000,000 common shares, of which 1,225,545 common shares remained authorized for future repurchases at June 30, 2022. This share repurchase authorization does not have a stated expiration date. In the fourth quarter, we made the following repurchases of our common stock:
Period Total
Number
of Shares
Purchased Average
Price Paid
Per Share Total
Number of
Shares
Purchased
as Part of
Publicly
Announced
Plans Maximum
Number of
Shares that
May Yet be
Purchased
Under the
Plans
April 1-30, 2022 (1)
450 $ 155.14 450 1,225,646
May 1-31, 2022 (1)
68 $ 121.72 68 1,225,578
June 1-30, 2022 (1)
33 $ 128.78 33 1,225,545
Total 551 $ 149.44 551 1,225,545
(1) Represents shares that were repurchased in satisfaction of tax withholding obligations arising from the vesting of restricted stock granted to employees under the Lancaster Colony Corporation 2015 Omnibus Incentive Plan.
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PERFORMANCE GRAPH
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL SHAREHOLDER RETURN
OF LANCASTER COLONY CORPORATION, THE S&P MIDCAP 400 INDEX
AND THE DOW JONES U.S. FOOD PRODUCERS INDEX
The graph set forth below compares the five-year cumulative total return from investing $100 on June 30, 2017 in each of our Common Stock, the S&P Midcap 400 Index and the Dow Jones U.S. Food Producers Index. The total return calculation assumes that all dividends are reinvested, including any special dividends.
Cumulative Total Return (Dollars)
6/17 6/18 6/19 6/20 6/21 6/22
Lancaster Colony Corporation 100.00 115.02 125.49 133.22 169.06 114.95
S&P Midcap 400 100.00 113.50 115.05 107.35 164.49 140.41
Dow Jones U.S. Food Producers 100.00 97.97 101.62 104.00 129.68 134.23
There can be no assurance that our stock performance will continue into the future with the same or similar trends depicted in the above graph.
Item 6. [Reserved]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.