Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Company’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information and Dividends
Our common shares are listed on the Nasdaq Global Select Market under the symbol NDSN. As of November 30, 2024, there were 1,088 record shareholders.
While we have historically paid dividends to holders of our common shares on a quarterly basis, the declaration and payment of future dividends will depend on many factors, including but not limited to, our earnings, financial condition, business development needs and regulatory considerations, and are at the discretion of our board of directors.
Performance Graph
The following graph compares the 10-year cumulative return, calculated on a dividend-reinvested basis, from investing $100 on November 1, 2014 in Nordson common shares, the S&P 500 Index, the S&P MidCap 400 Index, the S&P 500 Industrial Machinery Index, the S&P MidCap 400 Industrial Machinery Index and our New Peer Group, which includes: AME, B, DCI, ENTG, GGG, GTLS, ICUI, IEX, ITT, KEYS, LECO, MKSI, NATI, TER, TFX, TRMB, VNT, WTS and WWD.
Company/Market/Peer Group 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Nordson Corporation $ 100.00 $ 94.20 $ 134.16 $ 171.35 $ 167.44 $ 216.45 $ 269.38 $ 356.95 $ 318.97 $ 304.78 $ 359.20
S&P 500 Index $ 100.00 $ 105.20 $ 109.94 $ 135.93 $ 145.91 $ 166.81 $ 183.01 $ 261.55 $ 223.34 $ 245.99 $ 339.50
S&P MidCap 400 $ 100.00 $ 103.42 $ 109.89 $ 135.69 $ 137.08 $ 149.44 $ 147.72 $ 219.96 $ 194.58 $ 192.51 $ 256.02
S&P 500 Ind. Machinery $ 100.00 $ 99.85 $ 114.01 $ 157.18 $ 145.03 $ 176.87 $ 194.00 $ 256.07 $ 222.32 $ 243.45 $ 331.68
S&P MidCap 400 Ind. Machinery $ 100.00 $ 83.71 $ 98.24 $ 140.90 $ 137.93 $ 163.91 $ 175.15 $ 248.80 $ 225.40 $ 241.00 $ 308.20
Peer Group $ 100.00 $ 95.87 $ 102.83 $ 159.58 $ 158.52 $ 205.37 $ 224.76 $ 331.77 $ 271.31 $ 262.88 $ 328.27
Source: Zack’s Investment Research
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Common Share Repurchases
(in whole shares) Total Number
of Shares
Repurchased (1)
Average
Price Paid
per Share Total Number of
Shares Repurchased
as Part of Publicly
Announced Plans
or Programs (2)
Maximum Value of
Shares That May Yet
Be Purchased Under
the Plans or Programs (2)
August 1, 2024 to August 31, 2024 30 $ 243.34 — $ 523,798
September 1, 2024 to September 30, 2024 208 $ 260.01 — $ 523,798
October 1, 2024 to October 31, 2024 215 $ 260.35 — $ 523,798
Total 453 $ 259.07 — $ 523,798
(1) Includes shares tendered for taxes related to stock option exercises and vesting of restricted stock.
(2) In December 2014, the board of directors authorized a $300,000 common share repurchase program. In August 2015, the board of directors authorized the repurchase of up to an additional $200,000 of the Company’s common shares. In August 2018, the board of directors authorized the repurchase of an additional $500,000 of the Company’s common shares. In September 2022, the board of directors authorized the repurchase of up to an additional $500,000 of the Company's common shares. Approximately $523,798 of the total $1,500,000 authorized remained available for share repurchases at October 31, 2024. Uses for repurchased shares include the funding of benefit programs including stock options and restricted stock. Shares purchased are treated as treasury shares until used for such purposes. The repurchase program will be funded using cash from operations and proceeds from borrowings under our credit facilities. The repurchase program does not have an expiration date.
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