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As of November 9, 2023, we had approximately 739 holders of record of our common stock.
−Removed: The following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total returns of the S&P 500 index and the NASDAQ Electronic Components index.
−Removed: An investment of $100 (with reinvestment of all dividends, if any) is assumed to have been made in our common stock on September 30, 2017 and in each of such indices at month end starting on September 30, 2017 and its relative performance is tracked through October 1, 2022.
−Removed: * $100 invested on 9/30/2017, including reinvestment of dividends, as applicable.
−Removed: Indexes calculated on a month-end basis.
+Added: The following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total returns of the S&P 500 index and a new peer group index consisting of Flex Ltd., Jabil Inc., Celestica Inc., Benchmark Electronics, Inc., and Plexus Corp.
+Added: In previous years, we compared our cumulative total returns to the NASDAQ Electronic Components index.
+Added: This year, we have elected to replace such index with the new peer group index, as the NASDAQ Electronic Components index was discontinued in December 2022 and is no longer available for comparison this year, and because the companies included in the new peer group are in the same industry as we are.
+Added: An investment of $100 (with reinvestment of all dividends, if any) is assumed to have been made in our common stock on September 29, 2018 and in each of such indices at month end starting on September 29, 2018 and its relative performance is tracked through September 30, 2023.
+Added: * $100 invested on 9/29/2018 in stock or index, including reinvestment of dividends.
+Added: Index performance is calculated on a month-end basis.
Copyright @ 2023 Standard & Poor's, a division of S&P Global.
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S&P 500 100.00 104.25 120.05 156.07 131.92 160.44
−Removed: NASDAQ Electronic Components 100.00 114.71 119.95 174.67 250.16 176.17
+Added: Peer Group 100.00 99.51 101.04 160.44 151.51 276.77
Sanmina's stock price performance included in this graph is not necessarily indicative of future stock price performance.
We have never declared or paid cash dividends on our common stock.
−Removed: We currently expect to retain future earnings for use in our operations, for expansion of our business, and potentially for share repurchases and do not anticipate paying cash dividends in the foreseeable future.
−Removed: Additionally, our ability to pay dividends is limited pursuant to covenants contained in our various debt agreements.
+Added: We currently expect to retain future earnings for use in our operations, for expansion of our business, share repurchases and debt repayment and do not anticipate paying cash dividends in the foreseeable future.
+Added: Additionally, our ability to pay dividends is limited pursuant to covenants contained in our credit agreements.
See also “Item 7-Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources.”
Stock Repurchases
+Added: During the third quarter of 2023, our Board of Directors authorized us to repurchase up to $200 million of our common stock in the open market or in negotiated private transactions.
+Added: This program has no expiration date.
The table below sets forth information regarding repurchases of our common stock during the fourth quarter of 2023.
Period (1) Total Number of Shares Purchased Average Price Paid Per Share
−Removed: (2) TOTAL NUMBER OF SHARES PURCHASED AS PART OF PUBLICLY ANNOUNCED PROGRAMS
−Removed: (3) MAXIMUM DOLLAR VALUE OF SHARES THAT MAY YET BE PURCHASED UNDER THE PROGRAMS
−Removed: July 3, 2022 through July 30, 2022 131,756 $ 39.79 131,756 $ 182,312,678
−Removed: July 31, 2022 through August 27, 2022 — $ — — $ 182,312,678
−Removed: August 28, 2022 through October 1, 2022 402,765 $ 46.19 402,765 $ 163,710,163
+Added: (2) Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Dollar Value of Shares That May Yet Be Purchased Under The Programs
+Added: July 2, 2023 - July 29, 2023 — $ — — $ 312,321,196
+Added: July 30, 2023 - August 26, 2023 458,368 $ 55.17 458,368 $ 287,034,902
+Added: August 27, 2023 - September 30, 2023 145,408 $ 52.99 145,408 $ 279,329,725
Total 603,776 $ 54.64 603,776
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(2) Amounts do not include commissions payable on shares repurchased.
−Removed: The total average price paid per share is a weighted average based on the total number of shares repurchased during the period.
−Removed: (3) During the third quarter of 2022, our Board of Directors authorized us to repurchase up to $200 million of our common stock in the open market or in negotiated transactions off the market.
−Removed: This program has no expiration date.
+Added: The total average price paid per share is a weighted average based on the total number of shares repurchased during the period and does not include the effect of the excise tax under the provision of the Inflation Reduction Act.
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.