Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Sha reholder Matters and Issuer Purchases of Equity Securities
Market and dividend information
The Company’s common shares are traded on NASDAQ under the trading symbol “PLPC”. The following table sets forth for the periods indicated (i) the high and low closing sale prices per share of the Company’s common shares as reported by the NASDAQ and (ii) the amount per share of cash dividends paid by the Company.
Year Ended December 31,
2023
2022
Quarter
High
Low
Dividend
High
Low
Dividend
First
$
128.04
$
79.29
$
0.20
$
65.14
$
55.27
$
0.20
Second
172.40
119.62
0.20
64.99
58.40
0.20
Third
182.06
151.00
0.20
84.70
59.55
0.20
Fourth
162.36
110.28
0.20
94.34
71.80
0.20
While the Company expects to continue to pay dividends of a comparable amount in the near term, the declaration and payment of future dividends will be made at the discretion of the Company’s Board of Directors in light of the current needs of the Company. Therefore, there can be no assurance that the Company will continue to make such dividend payments in the future.
Number of common shareholders
As of February 23, 2024, the Company had approximately 6,582 shareholders of record.
Performance Graph
Historical share price performance should not be relied upon as an indication of future share price performance. The following graph compares the cumulative total return to holders of PLP's common shares against the cumulative total return of the NASDAQ Composite Index and the Hemscott Industry Group 627 (Industrial Electrical Equipment) (the “Peer Group Index”) for the five-year period ended December 31, 2023. The comparison of the cumulative total returns for each investment assumes that $100 was invested in PLP's common shares and the respective indices on December 31, 2018 through December 31, 2023 and assumes the reinvestment of dividends.
17
2018
2019
2020
2021
2022
2023
PREFORMED LINE PRODUCTS CO
100.00
112.84
129.90
124.25
161.44
261.18
NASDAQ MARKET INDEX
100.00
136.69
198.10
242.03
163.28
236.17
PEER GROUP INDEX
100.00
131.46
170.83
189.17
162.66
202.93
Repurchases of Equity Securities
On November 1, 2023, the Board of Directors authorized a new plan to repurchase up to an additional 212,952 of Preformed Line Products Company common shares, resulting in a total of 250,000 shares available for repurchase with no expiration date.
Period
Total
Number of
Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
Maximum Number
of Shares that may
yet be Purchased
under the Plans or
Programs
October
—
$
—
—
37,048
November
3,150
$
134.18
3,150
246,850
December
—
$
—
—
246,850
Total
3,150
18
Item 6. [Reserved]
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.