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
Our common stock is traded on the Nasdaq Global Select Market under the symbol SANM. As of November 14, 2024, we had approximately 712 holders of record of our common stock.
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 peer group index consisting of Flex Ltd., Jabil Inc., Celestica Inc., Benchmark Electronics, Inc., and Plexus Corp. An investment of $100 (with reinvestment of all dividends, if any) is assumed to have been made in our common stock on September 28, 2019 and in each of such indices at month end starting on September 28, 2019 and its relative performance is tracked through September 28, 2024.
* $100 invested on 9/28/2019 in stock or index, including reinvestment of dividends. Index performance is calculated on a month-end basis.
Copyright @ 2024 Standard & Poor's, a division of S&P Global. All rights reserved.
9/28/2019 10/3/2020 10/2/2021 10/1/2022 9/30/2023 9/28/2024
Sanmina Corporation 100.00 82.66 121.98 143.46 168.99 214.41
S&P 500 100.00 115.15 149.70 126.54 153.89 209.84
Peer Group 100.00 101.54 161.23 152.26 278.13 337.71
Sanmina's stock price performance included in this graph is not necessarily indicative of future stock price performance.
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Dividends
We have never declared or paid cash dividends on our common stock. We currently expect to retain future earnings for use in our operations, expansion of our business, share repurchases and debt repayments and do not anticipate paying cash dividends in the foreseeable future. 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
The table below presents information regarding repurchases of our common stock during the fourth quarter of 2024.
Period (1) Total Number of Shares Purchased Average Price Paid Per Share
(2) Total Number of Shares Purchased as Part of Publicly Announced Programs
(3) Maximum Dollar Value of Shares That May Yet Be Purchased Under The Programs
(2)
June 30, 2024 - July 27, 2024 — $ — — $ 117,824,163
July 28, 2024 - August 24, 2024 564,460 $ 69.05 564,460 $ 78,846,811
August 25, 2024 - September 28, 2024 380,451 $ 68.18 380,451 $ 52,906,153
Total 944,911 $ 68.70 944,911
(1) All months shown are our fiscal months.
(2) Amounts do not include commissions payable on shares repurchased. 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.
(3) During the third quarter of fiscal 2022 and third quarter of fiscal 2023, our Board of Directors authorized us to repurchase up to $200 million and $200 million of our common stock, respectively, in the open market or in negotiated private transactions. These programs have no expiration date.
Item 6. [Reserved]
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