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
Our common stock is traded on the NASDAQ Global Select Market under the symbol TTEK. There were approximately 1,150 stockholders of record at October 3, 2021.
Stock-Based Compensation
For information regarding our stock-based compensation, see Note 11, "Stockholders' Equity and Stock Compensation Plans" of the "Notes to Consolidated Financial Statements" included in Item 8.
Performance Graph
The following graph shows a comparison of our cumulative total returns with those of the NASDAQ Market Index and the Standard & Poor's ("S&P") 1000 Index. At this time, we do not have a comparable peer group due to the combination of our differentiated high-end consulting services and our end-markets. Thus, we have selected the S&P 1000 Index. The graph assumes that the value of an investment in our common stock and in each such index was $100 on October 2, 2016, and that all dividends have been reinvested . Dividends declared and paid in fiscal 2021 totaled $0.74 per share. We declared and paid dividends in the first and second quarters totaling $0.34 per share ($0.17 each quarter) on our common stock and paid dividends in the third and fourth quarters totaling $0.40 per share ($0.20 each quarter) on our common stock. We declared and paid dividends totaling $0.64, $0.54, $0.44 and $0.38 per share in fiscal 2020, 2019, 2018 and 2017, respectively. The comparison in the graph below is based on historical data and is not intended to forecast the possible future performance of our common stock.
ASSUMES $100 INVESTED ON OCTOBER 2, 2016
ASSUMES DIVIDEND REINVESTED
FISCAL YEAR ENDED OCTOBER 3, 2021
2016 2017 2018 2019 2020 2021
Tetra Tech, Inc. $ 100.00 $ 132.40 $ 195.86 $ 245.59 $ 265.88 $ 444.98
NASDAQ Market Index 100.00 123.68 154.82 154.46 214.36 288.08
S&P 1000 Index 100.00 118.60 137.22 130.15 122.60 188.72
The performance graph above and related text are being furnished solely to accompany this annual report on Form 10-K pursuant to Item 201(e) of Regulation S-K, and are not being filed for purposes of Section 18 of the Exchange Act, and are not to be incorporated by reference into any of our filings with the SEC, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
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Stock Repurchase Program
On January 27, 2020, the Board of Directors authorized a $200 million stock repurchase program, which was included in our remaining balance of $207.8 million as of fiscal 2020 year-end. In fiscal 2021, we repurchased and settled 479,369 shares with an average price of $125.16 per share for a total cost of $60.0 million in the open market. At October 3, 2021, we had a remaining balance of $147.8 million under our stock repurchase program.
Below is a summary of the stock repurchases that were traded and settled during the 12 months ended October 3, 2021:
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
Dollar Value
that May Yet
be Purchased
Under the
Plans or
Programs (in thousands)
September 28, 2020 - October 25, 2020 45,574 $ 102.67 45,574 $ 203,134
October 26, 2020 - November 22, 2020 46,975 110.67 46,975 197,935
November 23, 2020 - December 27, 2020 42,864 119.50 42,864 192,813
December 28, 2020 - January 24, 2021 33,790 125.46 33,790 188,574
January 25, 2021 - February 21, 2021 37,992 132.50 37,992 183,540
February 22, 2021 - March 28, 2021 42,519 134.69 42,519 177,813
March 29, 2021 - April 25, 2021 32,405 136.36 32,405 173,394
April 26, 2021 - May 23, 2021 41,534 125.17 41,534 168,195
May 24, 2021 - June 27, 2021 44,524 120.88 44,524 162,813
June 28, 2021 - July 25, 2021 32,956 123.77 32,956 158,734
July 26, 2021 - August 29, 2021 44,543 134.67 44,543 152,736
August 30, 2021 - October 3, 2021 33,693 146.10 33,693 147,813
Item 6. Selected Financial Data
Not applicable as we applied the amendment of Regulation S-K Item 301, which became effective for the fiscal year ended October 3, 2021.
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