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
Market Information and Holders
Our shares are listed and traded on the NYSE under the symbol “TEL.” As of November 8, 2024, there were 15,324 shareholders of record.
Performance Graph
The following graph compares the cumulative total shareholder return on our shares against the cumulative return on the S&P 500 Index and the Dow Jones U.S. Electrical Components & Equipment Index. The graph assumes the investment of $100 in our shares and in each index at fiscal year end 2019 and assumes the reinvestment of all dividends and distributions. The graph shows the cumulative total return for the last five fiscal years. The comparisons in the graph are based upon historical data and are not indicative of, nor intended to forecast, future returns.
Fiscal Year End
2019 (1)
2020
2021
2022
2023
2024
TE Connectivity
$
100.00
$
105.07
$
161.14
$
125.33
$
142.85
$
177.91
S&P 500 Index
100.00
113.50
155.59
127.18
154.68
210.00
Dow Jones U.S. Electrical Components & Equipment Index
100.00
104.82
152.18
126.17
159.89
218.36
(1)
$100 invested on September 27, 2019 in our common shares and in indexes. Indexes calculated on month-end basis.
24
Table of Contents
Dividends
At the Annual General Meeting on March 13, 2024, shareholders approved a dividend payment of $2.60 per share, payable in four equal quarterly installments of $0.65 per share. The third and fourth installments are expected to occur in our first and second quarters of fiscal 2025.
As a result of our change in place of incorporation, beginning in our third quarter of fiscal 2025, future dividends on our ordinary shares, if any, will be declared on a quarterly basis by our board of directors as provided by Irish law. Shareholder approval is no longer required. In exercising their discretion to approve such dividends, our board of directors will consider our results of operations, financial condition, cash requirements, future business prospects, statutory requirements of applicable law, contractual restrictions, restrictions imposed by Irish law, and other factors that they may deem relevant.
Issuer Purchases of Equity Securities
The following table presents information about our purchases of our common shares during the quarter ended September 27, 2024:
Maximum
Total Number of
Approximate
Shares Purchased
Dollar Value
as Part of
of Shares that May
Total Number
Average Price
Publicly Announced
Yet Be Purchased
of Shares
Paid Per
Plans or
Under the Plans
Period
Purchased (1)
Share (1)
Programs (2)
or Programs (2)
June 29–July 26, 2024
798,713
$
153.63
798,713
$
876,909,949
July 27–August 30, 2024
2,490,228
148.83
2,480,852
507,682,852
August 31–September 27, 2024
1,797,756
146.33
1,797,756
244,622,761
Total
5,086,697
148.70
5,077,321
(1) These columns include the following transactions which occurred during the quarter ended September 27, 2024:
(i) the acquisition of 9,376 common shares from individuals in order to satisfy tax withholding requirements in connection with the vesting of restricted share awards issued under equity compensation plans; and
(ii) open market purchases totaling 5,077,321 common shares, summarized on a trade-date basis, in conjunction with the share repurchase program announced in September 2007.
(2) Our share repurchase program authorizes us to purchase a portion of our outstanding common shares from time to time through open market or private transactions, depending on business and market conditions. The share repurchase program does not have an expiration date. On October 30, 2024, our board of directors authorized an increase of $2.5 billion in our share repurchase program. See Note 17 to the Consolidated Financial Statements for additional information regarding our share repurchase program.
ITEM 6. RESERVED