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.
Our common stock is quoted on the NASDAQ Global Select Market under the symbol "SCSC." As of August 20, 2023, there were approximately 735 holders of record of our common stock.
Stock Performance Chart
The following stock performance graph compares cumulative total shareholder return on our common stock over a five-year period with the Nasdaq Market Index and with the Standard Industrial Classification ("SIC") Code Index (SIC Code 5045 – Wholesale Computers and Peripheral Equipment and Software) for the same period. Total shareholder return represents stock price changes and assumes the reinvestment of dividends. The graph assumes the investment of $100 on June 30, 2018.
2018 2019 2020 2021 2022 2023
ScanSource, Inc. $ 100 $ 81 $ 60 $ 70 $ 77 $ 73
NASDAQ Composite $ 100 $ 108 $ 137 $ 199 $ 152 $ 192
SIC Code 5045 – Computers & Peripheral Equipment $ 100 $ 103 $ 76 $ 127 $ 116 $ 140
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Index to Financial Statements
Share Repurchases
In August 2021, our Board of Directors authorized a $100 million share repurchase program. The authorization does not have any time limit. In fiscal year 2023, we repurchased 524,108 shares totaling $15.8 million under the share repurchase program.
The following table shows the share-repurchase activity for the quarter ended June 30, 2023 (in thousands except share and per share data):
Period Total number of shares purchased (1)
Average price paid per share Total number of shares purchased as part of the publicly announced plan or program Approximate dollar value of shares that may yet be purchased under the plan or program
April 1, 2023 through April 30, 2023 107,639 $28.79 107,639 $67,802,877
May 1, 2023 through May 31, 2023 60,000 $27.43 60,000 $66,157,077
June 1, 2023 through June 30, 2023 992 $30.14 — $66,157,077
Total 168,631 167,639
(1) Includes 992 shares withheld from employees' stock-based awards to satisfy required tax withholding obligations for the month of June 2023. There were no shares withheld during the months of April and May 2023.
Dividends
We have never declared or paid a cash dividend. Under the terms of our credit facility, the payment of cash dividends is restricted.
ITEM 6. [Reserved].
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Index to Financial Statements
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.