Item 5. Market for Registrant’s Common Equity
ITEM 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Unregistered Sales of Equity Securities
None.
Share Repurchases
There were no share repurchases in fiscal 2021.
Dividends
Our quarterly dividend was $0.06 per common share and $0.054 per Class B common share. Annual dividend payments were approximately $3.1 million for both fiscal 2021 and fiscal 2020. All future payments of dividends are at the discretion of the Board of Directors. Dividend payments will depend on earnings, capital requirements, operating conditions and such other factors that the Board may deem relevant.
Common Stock Information
Our common stock is traded on the NASDAQ Global Select Market (“NASDAQ”) under the trading symbol (“RELL”). There is no established public trading market for our Class B common stock. As of July 26, 2021, there were approximately 459 stockholders of record for the common stock and approximately 15 stockholders of record for the Class B common stock.
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Performance Graph
The following graph compares the performance of our common stock for the periods indicated with the performance of the NASDAQ Composite Index and NASDAQ Electronic Components Index. The graph assumes $100 invested on the last day of our fiscal year 2016, in our common stock, the NASDAQ Composite Index and NASDAQ Electronic Components Index. Total return indices reflect reinvestment of dividends at the closing stock prices at the date of the dividend declaration.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Richardson Electronics, Ltd., the NASDAQ Composite Index and the NASDAQ Electronic Components Index $250 $200 $150 $100 $50 $0 5/30/15 5/28/16 5/27/17 6/2/18 6/1/19 5/30/20 Richardson Electronics, Ltd. NASDAQ Composite NASDAQ Electronic Components *$100 invested on 5/30/15 in stock or 5/31/15 in index, including reinvestment of dividends. Indexes calculated on month-end basis.
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ITEM 6. Selected Financial Data
Five-Year Financial Review
This information should be read in conjunction with our consolidated financial statements, accompanying notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere herein.
Fiscal Year Ended (1)
(in thousands, except per share amounts)
May 29,
2021
May 30,
2020
June 1,
2019
June 2,
2018
May 27,
2017
Statements of Income (Loss)
Net sales
$
176,937
$
155,898
$
166,652
$
163,212
$
136,872
Continuing Operations
Income (loss) from continuing operations before tax
$
2,308
$
(1,214
)
$
(6,311
)
$
3,860
$
(6,116
)
Income tax provision
653
624
1,017
1,534
812
Income (loss) from continuing operations
$
1,655
$
(1,838
)
$
(7,328
)
$
2,326
$
(6,928
)
Discontinued Operations
Income from discontinued operations
$
—
$
—
$
—
$
1,496
$
—
Net income (loss)
$
1,655
$
(1,838
)
$
(7,328
)
$
3,822
$
(6,928
)
Per Share Data
Net income (loss) per Common share - Basic:
Income (loss) from continuing operations
$
0.13
$
(0.14
)
$
(0.57
)
$
0.18
$
(0.55
)
Income from discontinued operations
—
—
—
0.12
—
Total net income (loss) per Common share - Basic
$
0.13
$
(0.14
)
$
(0.57
)
$
0.30
$
(0.55
)
Net income (loss) per Class B common share - Basic:
Income (loss) from continuing operations
$
0.11
$
(0.13
)
$
(0.51
)
$
0.16
$
(0.49
)
Income from discontinued operations
—
—
—
0.11
—
Total net income (loss) per Class B common
share - Basic
$
0.11
$
(0.13
)
$
(0.51
)
$
0.27
$
(0.49
)
Net income (loss) per Common share - Diluted:
Income (loss) from continuing operations
$
0.13
$
(0.14
)
$
(0.57
)
$
0.18
$
(0.55
)
Income from discontinued operations
—
—
—
0.12
—
Total net income (loss) per Common share - Diluted
$
0.13
$
(0.14
)
$
(0.57
)
$
0.30
$
(0.55
)
Net income (loss) per Class B common share - Diluted:
Income (loss) from continuing operations
$
0.11
$
(0.13
)
$
(0.51
)
$
0.16
$
(0.49
)
Income from discontinued operations
—
—
—
0.11
—
Total net income (loss) per Class B common
share - Diluted
$
0.11
$
(0.13
)
$
(0.51
)
$
0.27
$
(0.49
)
Cash Dividend Data
Dividends per common share
$
0.24
$
0.24
$
0.24
$
0.24
$
0.24
Dividends per Class B common share (2)
$
0.22
$
0.22
$
0.22
$
0.22
$
0.22
Balance Sheet Data
Total assets
$
156,753
$
150,720
$
153,017
$
166,329
$
157,464
Stockholders’ equity
$
121,560
$
118,660
$
123,757
$
135,181
$
132,327
(1)
Our fiscal year ends on the Saturday nearest the end of May. Each of the fiscal years presented contain 52/53 weeks.
(2)
The dividend per Class B common share is 90% of the dividend per Class A common share.
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