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
Our common stock is traded on The NASDAQ Stock Market under the symbol “PCYO.”
Holders
On November 11, 2024, there were 843 holders of record of our common stock.
Dividends
We have never paid any dividends on our common stock and expect for the foreseeable future to retain all of our capital and earnings from operations, if any, for use in expanding and developing our water and land development businesses. Any future decision as to the payment of dividends will be at the discretion of our board of directors and will depend upon our earnings, financial position, capital requirements, plans for expansion and such other factors as our board of directors deems relevant. The terms of our Series B Preferred Stock prohibit payment of dividends on common stock unless all dividends accrued on the Series B Preferred Stock have been paid and require dividends to be paid on the Series B Preferred Stock if proceeds from the sale of Export Water exceed $36,026,232. No dividends
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have been accrued to date as this threshold has not been met. For further discussion, see Note 9 to the accompanying consolidated financial statements.
Issuer Purchases of Equity Securities
On November 2, 2022, our Board of Directors approved a stock repurchase program. The program is open-ended and authorizes repurchases of up to an aggregate of 200,000 shares of common stock in the open market. As of August 31, 2024, 59,926 shares had been repurchased under the repurchase program. The following table presents the number and average price of shares purchased in each month of fiscal 2024 and during the first quarter of fiscal 2025 as of November 11, 2024:
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchase as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
September 2023
15,000
$
10.06
15,000
185,000
October 2023
5,000
9.49
5,000
180,000
January 2024
2,140
9.95
2,140
177,860
February 2024
7,860
9.93
7,860
170,000
March 2024
7,500
9.59
7,500
162,500
April 2024
2,500
9.40
2,500
160,000
May 2024
5,000
9.40
5,000
155,000
June 2024
11,880
9.16
11,880
143,120
August 2024
3,046
9.69
3,046
140,074
October 2024
10,000
10.73
10,000
130,074
Total
69,926
$
9.74
69,926
130,074
Item 6 – Selected Financial Data
Not Applicable
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