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 10, 2022, our Board of Directors re-authorized management, in its sole discretion, to repurchase our capital stock in any fiscal year. 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 th an 2.75 to 1.00. O therwise, the senior credit agreement restricts our repurchase of shares if the amount of repurchases in an y fiscal year exceeds $100.0 million plus a basket amount based on our cumulative consolidated net income from a specified date.
Pursuant to this re-authorization, we repurchased 706,827 of our common stock for an aggregate purchase price of $33.7 million during the year ended December 31, 2022. As of December 31, 2022, the maximum approximate dollar value of our common stock that may be purchased under this authorization during the current fiscal year is $66.3 million. The number of stockholders of record of our common stock as of February 17, 2023 was 2,268 .
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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, 2017 and the reinvestment of dividends.
2017 2018 2019 2020 2021 2022
SPX Technologies, Inc. $ 100.00 $ 89.23 $ 162.09 $ 173.75 $ 190.12 $ 209.14
S&P 500 100.00 95.62 125.72 148.85 191.58 156.88
S&P 1500 Industrials 100.00 86.62 112.43 125.58 153.43 143.57
S&P 600 100.00 90.25 109.07 119.51 149.71 123.63
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ITEM 6. [Reserved]
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