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
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,
there were 160 holders of record the Company’s Common Stock. The last reported sales price of the Company’s Common Stock on March 3, 2023 was $23.46.
Dividends. We have a history of paying cash dividends. Future dividend amounts will be considered after reviewing financial results and
capital needs and will be declared at the discretion of our Board of Directors.
Performance graph. 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
period of the Russell 3000 Index and the S&P Small Cap 600 Consumer Staples Index. 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
of all dividends on a quarterly basis.
Issuer purchases of equity securities.
On February 25, 2020, the Company’s Board of Directors approved a $50.0 million share repurchase program, which is intended for opportunistic execution based upon a variety of factors including market dynamics. On
October 25, 2021, the Board increased the approved share repurchase program by $30.7 million bringing the authority at the time back to $50.0 million (including approximately $19.3 million available for repurchases under the Board’s previous
authorization). 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. As of December 31, 2022, we had $27.2 million of remaining authority under the
repurchase program. This share repurchase program has no expiration date and is subject to the ongoing discretion of the Board. Repurchases under our stock repurchase programs have been made through open market transactions, privately negotiated
transactions or 10b5-1 repurchase plans.
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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:
Period
Total Number
of Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Maximum Number
(or Approximate
Dollar Value)
of Shares that
May Yet Be
Purchased Under the
Plans or Programs
October 1 to October 31
41,104
$
21.11
41,104
$
28,521,628
November 1 to November 30
36,905
$
22.02
36,905
$
27,708,979
December 1 to December 31
23,950
$
21.34
23,950
$
27,197,886
Total
101,959
101,959
Item 6. Selected Financial Data
Reserved
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