MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: Shares of our common stock are listed on the New York Stock Exchange (“NYSE”) under the symbol “TOL”.
−Removed: At December 15, 2023, there were approximately 399 record holders of our common stock.
+Added: Shares of our common stock are listed on the New York Stock Exchange under the symbol “TOL.” On December 18, 2024, there were approximately 381 record holders of our common stock.
Issuer Purchases of Equity Securities
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(b) Average price paid per share includes costs associated with the purchases, but excludes any excise tax that we accrue on our share repurchases as a result of the Inflation Reduction Act of 2022.
−Removed: (c) On May 17, 2022, our Board of Directors authorized the repurchase of 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions for general corporate purposes, including to obtain shares for the Company’s equity award and other employee benefit plans.
−Removed: This authorization terminated, effective May 17, 2022, the prior authorization that had been in effect since March 10, 2020.
−Removed: Most recently, on December 13, 2023, the Board of Directors renewed its authorization to repurchase 20 million shares of our common stock and terminated, effective the same date, the existing authorization that had been in effect since May 17, 2022.
+Added: (c) On December 13, 2023, our Board of Directors authorized the repurchase of 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions for general corporate purposes, including to obtain shares for the Company’s equity award and other employee benefit plans.
+Added: This authorization terminated, effective December 13, 2023, the prior authorization that had been in effect since March 17, 2022.
Our Board of Directors did not fix any expiration date for the current share repurchase program.
2 unchanged sentences
During fiscal 2024, we paid aggregate cash dividends of $0.90 per share to our shareholders.
−Removed: The payment of dividends is within the discretion of our Board of Directors and any decision to pay dividends in the future, and the amount of any such dividend, will depend upon an evaluation of a number of factors, including our results of operations, our capital requirements, our operating and financial condition, and any contractual limitations then in effect.
+Added: The payment of dividends is within the discretion of our Board of Directors and any decision to pay dividends in the future, and the amount of any such dividend, will depend upon an evaluation of a number of factors, including our results of operations, our capital requirements,
+Added: our operating and financial condition, and any contractual limitations then in effect.
Our revolving credit agreement and term loan agreement each require us to maintain a minimum tangible net worth (as defined in the respective agreement), which restricts the amount of dividends we may pay.
10 unchanged sentences
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.