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 February 21, 2024, there were 124 holders of record of the Company’s Common Stock. The last reported sales price of the Company’s Common Stock on February 21, 2024 was $22.88.
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,
2018 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 of Directors 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 of Directors’ previous authorization). On February 24, 2022, the Board of Directors increased the approved share repurchase program by $24.6 million bringing total authority at that time to $50.0 million. As of
December 31, 2023, 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 of Directors. All repurchases to date 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.
For the quarter ended December 31, 2023, the Company made no purchases of its common stock in connection with the repurchase program described above.
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Item 6. Selected Financial Data
Reserved
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