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
Market Information
The Company's common stock is listed on The NASDAQ Global Stock Market under the symbol PATK.
Holders of Common Stock
As of February 14, 2025, there were approximately 280 shareholders of record. A number of shares are held in broker and nominee names on behalf of beneficial owners.
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Dividends
In December 2019, the Company's Board of Directors (the "Board") adopted a dividend policy under which it plans to declare regular quarterly cash dividends. The Company paid cash dividends of $1.50 and $1.27 per share, or $50.2 million and $42.1 million in the aggregate, in 2024 and 2023, respectively. Any future determination to pay cash dividends will be made by the Board in light of the Company’s earnings, financial position, capital requirements, and restrictions under the Company’s 2024 Credit Agreement, and such other factors as the Board deems relevant.
Purchases of Equity Securities by the Issuer
Issuer Purchases of Equity Securities for the three months ended December 31, 2024 .
Period Total Number of Shares Purchased (1)
Average Price
Paid Per Share (1)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
September 30 - October 27, 2024 549 $ 96.14 — $ 77,569,000
October 28 - December 1, 2024 61,098 77.68 60,000 200,000,000
December 2 - December 31, 2024 1,365 55.39 — 200,000,000
Total 63,012 60,000
(1) Amount includes 3,012 shares of common stock purchased by the Company in aggregate in October, November and December 2024 for the sole purpose of satisfying minimum tax withholding obligations of employees upon the vesting of stock awards held by the employees.
(2) See Note 12 "Stock Repurchase Programs" of the Notes to Consolidated Financial Statements included elsewhere in this Form 10-K for additional information about the Company's stock repurchase program.
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Stock Performance Graph
The following graph compares the cumulative 5-year total return to shareholders of the Company’s common stock relative to the cumulative total returns of the Russell 2000 index and a customized peer group of companies, which includes Brunswick Corporation, Cavco Industries, Inc., LCI Industries, Malibu Boats, Inc., Polaris Inc., Thor Industries, Inc., Winnebago Industries, Inc., and Wabash National Corporation. This graph assumes an initial investment of $100 (with reinvestment of all dividends) was made in our common stock, in the index and in the peer group on December 31, 2019, and its relative performance is tracked through December 31, 2024.
($) 12/31/2019 12/31/2020 12/31/2021 12/30/2022 12/31/2023 12/31/2024
Patrick Industries, Inc. $ 100.00 $ 132.78 $ 158.95 $ 122.26 $ 207.39 $ 262.33
Peer Group $ 100.00 $ 115.84 $ 145.14 $ 112.44 $ 146.32 $ 114.29
Russell 2000 $ 100.00 $ 118.36 $ 134.57 $ 105.56 $ 121.49 $ 133.66
*The stock price performance included in this graph is not necessarily indicative of future stock price performance.
ITEM 6. RESERVED