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 traded on the New York Stock Exchange under the symbol “SPXC.”
We discontinued dividend payments in September 2015 in connection with the Spin-off and, thus, there have been no dividends declared since such time.
On May 11, 2021, our Board of Directors authorized management to repurchase our capital stock over a period expiring at the earlier of May 10, 2022 or such earlier time determined by our Board of Directors in its sole discretion. Under the authorization, we may repurchase shares through open market purchases, privately negotiated transactions or otherwise, and at prices and times and in amounts as we determine, subject to applicable restrictions under our senior credit agreement. Our senior credit agreement permits an unlimited amount of share repurchases if our consolidated leverage ratio (as calculated under the senior credit agreement) is less than 2.75 to 1.00. Otherwise, the senior credit agreement restricts our repurchase of shares if the amount of repurchases in any fiscal year exceeds $100.0 millio n plus a basket amount based on our cumulative consolidated net income from a specified date.
We have not repurchased any shares under this authorization, and there were no repurchases of common stock during the three months ended December 31, 2021. The number of stockholders of record of our common stock as of February 18, 2022 was 2,355 .
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Company Performance
This graph shows a five-year comparison of cumulative total returns for SPX, the S&P 500 Index, the S&P 1500 Industrials Index, and the S&P 600 Index. The graph assumes an initial investment of $100 on December 31, 2016 and the reinvestment of dividends.
2016 2017 2018 2019 2020 2021
SPX Corporation $ 100.00 $ 132.34 $ 118.09 $ 214.50 $ 229.93 $ 251.60
S&P 500 100.00 121.83 116.49 153.17 181.35 233.41
S&P 1500 Industrials 100.00 121.06 104.87 136.12 152.03 185.75
S&P 600 100.00 111.73 100.83 121.86 133.53 167.28
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ITEM 6. [Reserved]
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