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Market Information
−Removed: The principal stock exchange on which Turning Point Brands, Inc.’s common stock (par value $0.01 per share) is listed is the New York Stock Exchange under the symbol “TPB.” At March 4, 2022, there were 145 holders
−Removed: of record of Turning Point Brands, Inc.’s common stock.
−Removed: On November 9, 2017, our Board of Directors approved the initiation of a cash dividend to shareholders.
−Removed: The initial quarterly dividend of $0.04 per common share
−Removed: was paid on December 15, 2017 to shareholders of record at the close of business on November 27, 2017.
−Removed: The most recent dividend of $0.055 per common share, an increase of approximately 38% compared to the initial dividend, was paid on January 7,
−Removed: 2022, to shareholders of record at the close of business on December 17, 2021.
−Removed: Future dividend amounts will be considered after reviewing financial results and capital needs and will be declared at the
−Removed: discretion of the Company’s board of directors.
+Added: The principal stock exchange on which Turning Point Brands, Inc.’s common stock, par value $0.01 per share, (the “Common Stock”) is listed is the New York Stock Exchange under the symbol “TPB.” At March 3, 2023,
+Added: there were 160 holders of record the Company’s Common Stock.
+Added: The last reported sales price of the Company’s Common Stock on March 3, 2023 was $23.46.
+Added: We have a history of paying cash dividends.
+Added: Future dividend amounts will be considered after reviewing financial results and
+Added: capital needs and will be declared at the discretion of our Board of Directors.
Performance graph.
−Removed: The graph below compares the cumulative total shareholder return of Turning Point Brands, Inc.’s common stock since our initial public offering on May 11,
−Removed: 2016, with the Russell 3000 Index and the S&P Small Cap 600 Consumer Staples Index.
−Removed: The information presented assumes an initial investment of $100 on May 11, 2016, and that all dividends were reinvested.
−Removed: The cumulative returns shown
−Removed: represent the value that these investments would have had on December 31, 2021.
+Added: The graph below compares the cumulative total shareholder return of our common stock for the last five years with the cumulative total return for the same
+Added: period of the Russell 3000 Index and the S&P Small Cap 600 Consumer Staples Index.
+Added: The information presented assumes the investment of $100 in common stock and each of the indices as of the market close on December 31, 2017 and the reinvestment
+Added: of all dividends on a quarterly basis.
Issuer purchases of equity securities.
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authorization).
−Removed: As of December 31, 2021, we had $31.8 million of remaining authority under the repurchase program.
+Added: On February 24, 2022, the Board increased the approved share repurchase program by $24.6 million bringing total authority at that time to $50.0 million.
+Added: As of December 31, 2022, we had $27.2 million of remaining authority under the
+Added: repurchase program.
This share repurchase program has no expiration date and is subject to the ongoing discretion of the Board.
−Removed: All repurchases to date
−Removed: under our stock repurchase programs have been made through open market transactions, but in the future, we may also purchase shares through privately negotiated transactions or 10b5-1 repurchase plans.
−Removed: On February 24, 2022, the Board increased
−Removed: the approved share repurchase program by $24.6 million bringing total authority at that time to $50 million.
+Added: Repurchases under our stock repurchase programs have been made through open market transactions, privately negotiated
+Added: transactions or 10b5-1 repurchase plans.
The following table includes information regarding purchases of our common stock made by us during the quarter ended December 31, 2022 in connection with the repurchase program described above:
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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.