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, 2024, there were approximately 800 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 Composite 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, 2019.
2019 2020 2021 2022 2023 2024
ScanSource, Inc. $ 100 $ 74 $ 86 $ 96 $ 91 $ 136
NASDAQ Composite $ 100 $ 127 $ 184 $ 141 $ 178 $ 231
SIC Code 5045 – Computers & Peripheral Equipment and Software $ 100 $ 110 $ 218 $ 187 $ 195 $ 248
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Index to Financial Statements
Share Repurchases
The following table shows the share-repurchase activity for the quarter ended June 30, 2024 (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 (2)
Approximate dollar value of shares that may yet be purchased under the plan or program (2)
April 1, 2024 through April 30, 2024 70,000 $42.64 70,000 $141,930,496
May 1, 2024 through May 31, 2024 219,908 $46.78 219,908 $131,503,175
June 1, 2024 through June 30, 2024 186,180 $45.31 184,445 $123,149,303
Total 476,088 474,353
(1) Includes 1,735 shares withheld from employees' stock-based awards to satisfy required tax withholding obligations for the month of June 2024. There were no shares withheld during the months of April and May 2024.
(2) In August 2021, our Board authorized a $100 million share repurchase program, which does not have any time limit. In May 2024, our Board subsequently increased the authorization for the share repurchase program by an additional $100 million, which does not have any time limit. In fiscal year 2024, we repurchased 980,539 shares totaling $43.3 million under the share repurchase program.
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.