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, 2023, our common stock was held by approximately 121 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.
Unregistered Sales of Equity Securities and Use of Proceeds
All issuances of unregistered securities during fiscal year 2023, if any, have previously been disclosed in filings with the SEC.
Recent Sales of Unregistered Equity Securities
All issuances of unregistered securities during fiscal year 2023, if any, have previously been disclosed in filings with the SEC.
Stock Repurchases and Dividends
Repurchases of our common stock by month in the fourth quarter of fiscal year 2023 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 2023 — $ — — $ 197,959
October 2023 — — — 197,959
November 2023 76,373 51.86 76,373 193,998
Total 76,373 $ 51.86 76,373 $ 193,998
On January 10, 2023, our Board of Directors increased our share repurchase authorization by $150.0 million, to an aggregate authorization of $228.0 million. 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.
We have declared aggregate per share quarterly cash dividends totaling $0.70 for each of the years ended November 30, 2023, 2022 and 2021. We paid aggregate cash dividends totaling $31.6 million, $31.1 million and $31.6 million for the years ended November 30, 2023, 2022 and 2021, respectively. Our Board of Directors may choose to suspend, decrease, or discontinue utilizing dividends as part of our capital allocation strategy at any time, particularly, if doing so, may advance our accretive M&A 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, 2023, 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, 2018 in stock or index, including reinvestment of dividends.
November 30, 2018 2019 2020 2021 2022 2023
Progress Software Corporation $ 100.00 $ 116.98 $ 114.05 $ 137.80 $ 151.65 $ 153.19
NASDAQ Composite 100.00 116.88 166.41 211.96 156.44 194.07
NASDAQ Computer 100.00 129.83 196.65 280.00 201.30 291.72
Item 6. [Reserved]