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 Information and Holders
Our common stock is listed on The Nasdaq Stock Market LLC and trades on the Nasdaq Global Select Market under the symbol “RGP.” As of July 12, 2024, the approximate number of holders of record of our common stock was 38 (a holder of record is the name of an individual or entity that an issuer carries in its records as the registered holder (not necessarily the beneficial owner) of the issuer’s securities).
Dividend Policy
Our Board of Directors has established a quarterly dividend, subject to quarterly Board of Directors’ approval. Pursuant to declaration and approval by our Board of Directors, we declared a dividend of $0.14 per share of common stock during each quarter in fiscal 2024, 2023, and 2022. On April 18, 2024, our Board of Directors declared a regular quarterly dividend of $0.14 per share of our common stock, which was subsequently paid on June 13, 2024 to stockholders of record at the close of business on May 16, 2024. Continuation of the quarterly dividend will be at the discretion of our Board of Directors and will depend upon our financial condition, results of operations, capital requirements, general business condition, contractual restrictions contained in our current or future credit agreements and other agreements, and other factors deemed relevant by our Board of Directors.
Issuances of Unregistered Securities
None.
Issuer Purchases of Equity Securities
In July 2015, our Board of Directors approved a stock repurchase program, authorizing the purchase, at the discretion of our senior executives, of our common stock for an aggregate dollar limit not to exceed $150.0 million. Subject to the aggregate dollar limit, the currently authorized stock repurchase program does not have an expiration date. Repurchases under the program may take place in the open market or in privately negotiated transactions and may be made pursuant to a Rule 10b5-1 plan.
The following summarizes shares of common stock repurchased by the Company during the fourth quarter of fiscal 2024:
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
February 25, 2024— March 23, 2024 - $ - - $ 45,246,163
March 24, 2024 — April 20, 2024 252,396 $ 11.89 252,396 $ 42,246,173
April 21, 2024 — May 25, 2024 - $ - - $ 42,246,173
Total February 25, 2024 — May 25, 2024 252,396 $ 11.89 252,396 $ 42,246,173
Performance Graph
Set forth below is a line graph comparing the annual percentage change in the cumulative total return to the holders of our common stock against the cumulative total return of each of the Russell 3000 Index, a customized peer group consisting of eight companies listed below the following table and a combined classification of companies under Standard Industry Codes as 8742-Management Consulting Services, in each case for the five years ended May 25, 2024. The graph assumes $100 was invested at market close on May 24, 2019 in our common stock and in each index (based on prices from the close of trading on May 24, 2019), and that all dividends are reinvested. Stockholder returns over the indicated period may not be indicative of future stockholder returns.
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The information contained in the performance graph shall not be deemed to be “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933, as amended or the Securities Exchange Act of 1934, as amended except to the extent that we specifically incorporate it by reference into such filing.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
*$100 invested on 5/24/19 in stock or index, including reinvestment of dividends.
May 24, 2019 May 30, 2020 May 29, 2021 May 28, 2022 May 27, 2023 May 25, 2024
Resources Connection, Inc. $ 100.00 $ 73.64 $ 102.05 $ 131.56 $ 116.24 $ 86.85
Russell 3000 $ 100.00 $ 108.58 $ 156.26 $ 151.62 $ 154.48 $ 196.98
SIC Code 8742 - Management Consulting $ 100.00 $ 102.54 $ 132.82 $ 132.72 $ 140.96 $ 164.41
Peer Group $ 100.00 $ 99.02 $ 147.55 $ 160.38 $ 170.36 $ 221.84
Our customized peer group includes the following eight professional services companies that we believe reflect the competitive landscape in which we operate and acquire talent: Barrett Business Services, Inc.; CBIZ, Inc.; CRA International, Inc.; FTI Consulting, Inc.; Heidrick & Struggles International, Inc.; Huron Consulting Group Inc.; ICF International, Inc.; Kforce, Inc.; Korn Ferry; and MISTRAS Group, Inc.
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ITEM 6. RESERVED