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
(a) Not applicable.
(c) As of January 31, 2025, we had 2,644 record holders of our common stock.
Our common stock is traded on the NYSE under the “OLN” ticker symbol.
A dividend of $0.20 per common share was paid during each of the four quarters in 2024 and 2023.
The payment of future cash dividends is subject to the discretion of our Board and will be determined in light of then current conditions, including our earnings, our operations, our financial condition, our capital requirements, and other factors deemed relevant by our Board. In the future, our Board may change our dividend policy, including the frequency or amount of any dividend, in light of then existing conditions.
Issuer Purchases of Equity Securities
Period Total Number of Shares (or Units) Purchased (1)
Average Price Paid per Share (or Unit) (2)
Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs Maximum Dollar Value of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
October 1-31, 2024 210,845 $ 47.45 210,845
November 1-30, 2024 778,434 42.41 778,434
December 1-31, 2024 — — —
Total $ 1,998,931,863 (1)
(1) On December 11, 2024, our Board of Directors authorized a share repurchase program for the purchase of shares of common stock at an aggregate price of up to $1.3 billion (the 2024 Repurchase Authorization). This program will terminate upon the purchase of $1.3 billion of common stock. On July 28, 2022, our Board of Directors authorized a share repurchase program for the purchase of shares of common stock at an aggregate price of up to $2.0 billion (the 2022 Repurchase Authorization). This program will terminate upon the purchase of $2.0 billion of common stock. Through December 31, 2024, 25,156,703 shares of common stock had been repurchased and retired at a total value of $1,301.1 million and $698.9 million and $1.3 billion of common stock remained available for purchase under the 2022 and 2024 Repurchase Authorization programs, respectively.
(2) Average price paid per share includes transaction costs including commissions and fees paid to acquire the shares and excludes costs associated with 1% excise tax on the fair market value of stock repurchases.
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Performance Graph
This graph compares the total shareholder return on our common stock with the cumulative total return of the Standard & Poor’s (S&P) 500 Index, S&P 500 Chemicals Index and S&P Composite 1500 Commodity Chemicals Index.
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN
Among Olin Corporation, the S&P 500 Index,
S&P 500 Chemicals Index and the S&P Composite 1500 Commodity Chemicals Index
2019 2020 2021 2022 2023 2024
Olin Corporation 100 151 359 336 347 221
S&P 500 Index 100 118 152 125 158 197
S&P 500 Chemicals Index 100 118 149 132 146 146
S&P Composite 1500 Commodity Chemicals Index 100 108 126 119 138 113
Data is for the five-year period from December 31, 2019, through December 31, 2024. The cumulative return includes reinvestment of dividends. The performance graph assumes an investment of $100 on December 31, 2019.
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FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
2024 2023 2022 2021 2020
Operations ($ and shares in millions, except per share data)
Sales $ 6,540 $ 6,833 $ 9,376 $ 8,911 $ 5,758
Cost of goods sold 5,803 5,667 7,194 6,616 5,375
Selling and administrative 409 407 394 417 422
Restructuring charges 33 90 25 28 9
Goodwill impairment — — — — 700
Other operating income 1 43 16 1 1
Interest expense 184 181 144 348 293
Interest income and other income 4 4 2 — 1
Non-operating pension income 26 24 39 36 19
Income (loss) before taxes 142 559 1,676 1,539 (1,020)
Income tax provision (benefit) 37 107 349 242 (50)
Net income (loss) 105 452 1,327 1,297 (970)
Net loss attributable to noncontrolling interests (4) (8) — — —
Net income (loss) attributable to Olin Corporation $ 109 $ 460 $ 1,327 $ 1,297 $ (970)
Financial Position
Cash and cash equivalents $ 176 $ 170 $ 194 $ 181 $ 190
Working capital, excluding cash and cash equivalents 272 275 401 386 329
Property, plant and equipment, net 2,328 2,520 2,674 2,914 3,171
Total assets 7,579 7,713 8,044 8,518 8,271
Capitalization:
Short-term debt 129 79 10 201 26
Long-term debt 2,713 2,591 2,571 2,578 3,838
Shareholders’ equity 2,055 2,268 2,544 2,652 1,451
Total capitalization $ 4,897 $ 4,938 $ 5,125 $ 5,431 $ 5,315
Total debt to total capitalization 58.0 % 54.1 % 50.4 % 51.2 % 72.7 %
Per Share Data
Net income (loss) attributable to Olin Corporation:
Basic $ 0.92 $ 3.66 $ 9.16 $ 8.15 $ (6.14)
Diluted $ 0.91 $ 3.57 $ 8.94 $ 7.96 $ (6.14)
Cash dividends paid per common share $ 0.80 $ 0.80 $ 0.80 $ 0.80 $ 0.80
Other
Capital expenditures $ 195 $ 236 $ 237 $ 201 $ 299
Depreciation and amortization 518 533 599 583 568
Common stock dividends paid 94 101 116 128 126
Repurchases of common stock 300 711 1,351 252 —
Current ratio 1.3 1.3 1.4 1.3 1.4
Effective tax rate 25.9 % 19.2 % 20.8 % 15.7 % 4.9 %
Average common shares outstanding - diluted 119.5 128.8 148.5 163.0 157.9
Employees 7,676 7,326 7,780 7,750 8,000
Item 6. [RESERVED]
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