3 unchanged sentences
The Company increased its annual dividend per common share by $0.04 in 2023 compared to 2022 and intends to continue to pay quarterly dividends in 2024.
−Removed: In July 2022, the Company raised the quarterly dividend per common share, its 55th consecutive increase, which extended its record for the longest, consecutive quarterly and annual dividend payments among industrial companies.
+Added: In July 2023, the Company raised the quarterly dividend per common share, its 56th annual consecutive increase, which extended its record for the longest, consecutive quarterly and annual dividend payments among industrial companies listed on the NYSE.
As of February 1, 2024, there were 8,258 holders of record of the Company’s common stock.
10 unchanged sentences
Total — $ — — 20
−Removed: (a) Shares of common stock in this column were deemed surrendered to the Company by participants in various benefit plans of the Company to satisfy the participants’ taxes related to vesting or delivery of time-vesting restricted share units under those plans.
+Added: (a) The Company issues time-vested restricted stock units (“RSUs”) as part of its benefit plans.
+Added: In the Consolidated Financial Statements, shares of common stock withheld for tax purposes on behalf of the participant in connection with the vesting or delivery of RSUs are treated in a similar manner as common stock repurchases because they reduce the number of shares that would have been issued upon vesting or delivery.
+Added: Such withholdings of shares of common stock are not considered common stock repurchases under the Company's authorized common stock repurchase program.
(b) On April 21, 2022, the Board approved a share repurchase program of up to 20 million shares of the Company’s common stock (the “April 2022 Program”).
4 unchanged sentences
Stock Performance Graph
−Removed: The following line graph compares the yearly percentage change in the Company’s cumulative total shareholder return for the last five years to that of the S&P 500 Index, S&P 500 Capital Goods Index and S&P 500 Industrials Index.
−Removed: Following the recent portfolio transformation, the Company has elected to replace the S&P 500 Industrials Index with the S&P 500 Capital Goods Index which it believes is a more appropriate comparison.
−Removed: The S&P 500 Capital Goods Index represents a more focused group of 45 companies across major industrial manufacturing categories that carry similar operational characteristics to the Company.
+Added: The following line graph compares the yearly percentage change in the Company’s cumulative total shareholder return for the last five years to that of the S&P 500 Index and the S&P 500 Capital Goods Index.
+Added: The S&P 500 Capital Goods Index represents a focused group of companies across major industrial manufacturing categories that carry similar operational characteristics to the Company.
THE POINTS IN THE ABOVE TABLE ARE AS FOLLOWS:
3 unchanged sentences
S&P 500 Capital Goods Index $ 100.00 $ 133.11 $ 141.33 $ 168.07 $ 167.61 $ 199.85
−Removed: S&P 500 Industrials Index $ 100.00 $ 96.19 $ 128.70 $ 158.11 $ 202.22 $ 162.96
−Removed: The comparison assumes $100 invested at the closing price on December 30, 2017 in the Company’s common stock, S&P 500 Index, S&P 500 Capital Goods Index, and S&P 500 Industrials Index.
+Added: The comparison assumes $100 invested at the closing price on December 28, 2018 in the Company’s common stock, S&P 500 Index, and S&P 500 Capital Goods Index.
Total return assumes reinvestment of dividends.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.