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 and Stockholders
Our common stock trades on the NASDAQ Global Select Market under the symbol "PRGS".
As of December 31, 2020, our common stock was held by approximately 145 stockholders of record. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.
Stock Repurchases and Dividends
Repurchases of our common stock by month in the fourth quarter of fiscal year 2020 were as follows:
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs
September 1, 2020 - September 30, 2020 — $ — — $ 230,000,000
October 1, 2020 - October 31, 2020 513,116 38.96 513,116 210,000,000
November 1, 2020 - November 30, 2020 506,881 39.44 506,881 190,000,000
Total 1,019,997 $ 39.20 1,019,997 $ 190,000,000
The timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors, and the Board of Directors may choose to suspend, expand or discontinue the repurchase program at any time. In January 2020, our Board of Directors increased the total share repurchase authorization to $250.0 million. As of November 30, 2020, there was $190.0 million remaining under the share repurchase authorization.
We have declared aggregate per share quarterly cash dividends totaling $0.670, $0.630 and $0.575 for the years ended November 30, 2020, November 30, 2019 and November 30, 2018, respectively. We paid aggregate cash dividends totaling $29.9 million, $27.8 million and $25.8 million for the years ended November 30, 2020, November 30, 2019 and November 30, 2018, respectively. We expect to continue paying quarterly cash dividends in subsequent quarters consistent with our capital allocation strategy.
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Stock Performance Graph and Cumulative Total Return
The graph below compares the cumulative total stockholder return on our common stock with the cumulative total return on the NASDAQ Composite Index and the NASDAQ Computer Index for each of the last five fiscal years ended November 30, 2020, assuming an investment of $100 at the beginning of such period and the reinvestment of any dividends.
Comparison of 5 Year Cumulative Total Return (1)
Among Progress Software Corporation, the NASDAQ Composite Index and the
NASDAQ Computer Index
(1) $100 invested on November 30, 2015 in stock or index, including reinvestment of dividends.
November 30, 2015 2016 2017 2018 2019 2020
Progress Software Corporation $ 100.00 $ 123.26 $ 172.32 $ 146.56 $ 171.45 $ 167.15
NASDAQ Composite 100.00 104.21 134.55 143.49 167.71 238.79
NASDAQ Computer 100.00 107.25 151.69 158.83 206.22 312.34
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Item 6. Selected Financial Data
The following table sets forth selected financial data for the last five fiscal years (in thousands, except per share data):
Year Ended November 30, 2020 2019 2018 2017 2016
As Adjusted (1)
As Adjusted (1)
As Reported (1)
Revenue $ 442,150 $ 413,298 $ 378,981 $ 389,154 $ 405,341
Income (loss) from operations 107,728 40,084 67,814 57,490 (29,709)
Net income (loss) 79,722 26,400 49,670 29,021 (55,726)
Basic earnings (loss) per share 1.78 0.59 1.09 0.60 (1.13)
Diluted earnings (loss) per share 1.76 0.58 1.08 0.60 (1.13)
Cash dividends declared per common share 0.670 0.630 0.575 0.515 0.125
Cash, cash equivalents and short-term investments 105,995 173,685 139,513 183,609 249,754
Total assets 1,041,782 881,271 644,150 718,718 754,827
Long-term debt, net, including current portion 382,502 294,719 116,089 121,909 135,000
Shareholders’ equity 346,013 330,282 324,002 404,381 406,629
(1) The Company adopted the accounting standard related to revenue recognition ("ASC 606") effective December 1, 2018 using the full retrospective method. As a result, we have adjusted balances for 2018 and 2017. We have not adjusted 2016for ASC 606. See Note 1. Nature of Business and Summary of Significant Accounting Policies for further information.
Fiscal year 2016 amounts were impacted by a $92.0 million impairment charge related to the goodwill of the Application Development and Deployment reporting unit.
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.