2 unchanged sentences
We initiated quarterly dividend payments to our shareholders in the second quarter of 2004 and we have continued payments in each subsequent quarter.
−Removed: Our Board has increased the dividend amount fifteen times, including in the fourth quarter of 2004, annually in the second quarters of 2005 through 2008 and in the second quarters of 2011 through 2020.
+Added: Our Board has increased the dividend amount sixteen times, including in the fourth quarter of 2004, annually in the second quarters of 2005 through 2008 and in the second quarters of 2011 through 2021.
Our Board may declare future dividends at their discretion, after considering various factors, including our earnings, capital requirements, financial position, contractual restrictions and other relevant business considerations.
3 unchanged sentences
The information included under the caption “Stock Performance Graph” in this Item 5 of this Annual Report on Form 10-K is not deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 (the 1934 Act) or to the liabilities of Section 18 of the 1934 Act, and will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the 1934 Act, except to the extent we specifically incorporate it by reference into such a filing.
−Removed: The following graph compares the total shareholder return on our common stock for the last five fiscal years with the total return on the S&P 500 Index, S&P MidCap 400 Index and the Nasdaq Index for the same period, in each case assuming the investment of $100 on December 31, 2015 and the reinvestment of all dividends.
−Removed: Our common stock was added to the S&P 500 Index in October 2020.
−Removed: We believe the S&P 500 Index includes companies with market capitalization comparable to ours.
+Added: The following graph compares the cumulative total shareholder return on our common stock for the last five fiscal years with the total return on the S&P 500 Index, of which we have been a member since 2020, and the Nasdaq Index for the same period, in each case assuming the investment of $100 on December 31, 2016 and the reinvestment of all dividends.
+Added: We believe the S&P 500 Index is comprised of similar-sized public companies that represent the most likely alternative investments for investors.
Additionally, we chose the S&P 500 Index for comparison, as opposed to an industry index, because we do not believe that we can reasonably identify a peer group or a published industry or line-of-business index that contains companies in a similar line of business.
−Removed: Consistent with our prior year presentation, we have also included the S&P MidCap 400 Index.
Period Indexed Returns
2 unchanged sentences
S&P 500 Index 100.00 121.83 116.49 153.17 181.35 233.41
−Removed: S&P MidCap 400 Index 100.00 120.74 140.35 124.80 157.49 179.00
Nasdaq Index 100.00 129.64 125.96 172.18 249.51 304.85
17 unchanged sentences
There were 125 shares surrendered for this purpose in the fourth quarter of 2021.
+Added: (2) In May 2021, our Board authorized an additional $450.0 million under our share repurchase program for the repurchase of shares of our common stock in the open market at prevailing market prices or in privately negotiated transactions.
(3) As of February 18, 2022, our total authorization remaining was $482.4 million.
−Removed: Selected Financial Data
Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.