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In making any such decision, our Board of Directors may take into account, among other things, our results of operations, capital requirements, financial condition, contractual restrictions, and other factors that our Board of Directors may deem relevant.
−Removed: During the 52 weeks ended January 1, 2022, the Company’s Board of Directors declared dividends on the shares of the Series A Preferred Stock outstanding as of the respective record dates.
−Removed: On March 31, 2021, the Company paid a dividend on the shares of the Series A Preferred Stock in the form of 9,154 shares of Series A Preferred Stock, plus a de minimis amount in cash in lieu of fractional shares.
−Removed: The value of the dividend-in-kind paid by the Company was $ 15 million.
−Removed: On June 30, 2021, September 30, 2021, and December 31, 2021, the Company paid cash dividends in the aggregate of $ 28 million on the shares of the Series A Preferred Stock.
+Added: During the 52 weeks ended December 31, 2022, the Company’s Board of Directors declared dividends on the shares of the Series A Preferred Stock outstanding as of the respective record dates.
+Added: On March 31, 2022, June 30, 2022, September 30, 2022 and December 31, 2022, the Company paid cash dividends in the aggregate of $ 37 million on the shares of the Series A Preferred Stock.
See Note 14, Convertible Preferred Stock, in our consolidated financial statements for further information.
+Added: Share Repurchase Program
+Added: On November 2, 2022, our Board of Directors approved a share repurchase program under which the Company is authorized to repurchase up to $500 million of its outstanding common stock.
+Added: At December 31, 2022, there was approximately $ 486 million in remaining funds authorized under this program.
+Added: For the year ended December 31, 2022, the Company repurchased 396,069 shares at an aggregate purchase price of approximately $ 14 million under the program.
+Added: The size and timing of any repurchases will depend on a number of factors, including share price, general business and market conditions and other factors.
+Added: Under the share repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, privately negotiated transactions, accelerated share repurchases and Rule 10b5-1 trading plans.
+Added: The share repurchase program does not obligate the Company to acquire any particular amount of shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
+Added: The repurchase authorization does not have an expiration date.
+Added: The following table summarizes repurchases of US Foods common stock in the three months ended December 31, 2022:
+Added: Period (Millions of dollars, except number and price per share) Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
+Added: October 2, 2022 through November 5, 2022 — $ — — $ 500
+Added: November 6, 2022 through December 3, 2022 — — — 500
+Added: December 4, 2022 through December 31, 2022 396,069 35.25 396,069 $ 486
+Added: Total 396,069 $ 35.25 $ 396,069
Stock Performance Graph
The following stock performance graph compares the cumulative total stockholder return of the Company’s common stock with the cumulative total return of the S&P 500 Index and the S&P 500 Food and Staples Retailing Index for the last five fiscal years.
−Removed: The graph assumes the investment of $100 in our common stock and each of such indices on December 31, 2016 and the reinvestment of dividends, as applicable.
+Added: The graph assumes the investment of $100 in our common stock and each of such indices on December 30, 2017 (the beginning of our fiscal year) and the reinvestment of dividends, as applicable.
Performance data for the Company, the S&P 500 Index and the S&P 500 Food and Staples Retailing Index is provided as of the last trading day of each of our last five fiscal years.
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S&P Food and Staples Retailing Index 100 101 129 150 187 168
−Removed: Selected Financial Data
−Removed: Not Applicable.
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.