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
Common Stock Information
The Company’s common stock is listed on the New York Stock Exchange under the symbol “UTL.” As of December 31, 2024, there were 1,108 shareholders of record of the Company’s common stock.
Dividend Information
Information regarding dividend payments by the Company to the Company’s shareholders for the year ended December 31, 2024 as compared to the year ended December 31, 2023, is set forth in the following table.
Dividends per Common Share
2024
2023
1st Quarter
$
0.425
$
0.405
2nd Quarter
0.425
$
0.405
3rd Quarter
0.425
$
0.405
4th Quarter
0.425
$
0.405
Total for Year
$
1.70
$
1.62
See “Dividends” in Part II, Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations).
Equity Compensation Plan Information
Information regarding securities authorized for issuance under the Company’s equity compensation plans, as of December 31, 2024, is set forth in the following table.
(a)
(b)
(c)
Plan Category
Number of securities
to be issued upon exercise
of outstanding options,
warrants and rights
Weighted-average
exercise price of
outstanding options,
warrants and rights
Number of securities
remaining available for
future issuance under
equity compensation
plans (excluding
securities reflected in
column (a))
Equity compensation plans approved by security holders (1)
—
—
385,782
Equity compensation plans not approved by security holders
—
—
—
Total
—
—
385,782
NOTES: (also see Note 5 (Equity) to the accompanying Consolidated Financial Statements)
(1) Consists of the Third Amended and Restated 2003 Stock Plan (as amended and restated, the “Plan”). On April 19, 2012, shareholders initially approved the Plan, and a total of 677,500 shares of the Company’s common stock were reserved for issuance pursuant to awards of restricted stock, restricted stock units and common stock under the Plan. On May 1, 2024, shareholders approved an additional 350,000 shares of the Company’s common stock to be reserved for issuance pursuant to awards of restricted stock, restricted stock units and common stock under the Plan. A total of 586,645 shares of restricted stock have been awarded and 58,272 restricted stock units have been settled and issued as shares of common stock by Plan participants through December 31, 2024. As of December 31, 2024, a total of 14,544 shares of restricted stock were forfeited and once again became available for issuance under the Plan.
Stock Performance Graph
The following graph compares Unitil Corporation’s cumulative stockholder return since December 31, 2019 with the Peer Group index, comprised of the S&P 500 Utilities Index, and the S&P 500 index. The graph assumes that the value of the investment in the Company’s common stock and each index (including reinvestment of dividends) was $100 on December 31, 2019.
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NOTE:
(1) The graph above assumes $100 invested on December 31, 2019, in each category and the reinvestment of all dividends during the five-year period. The Peer Group is comprised of the S&P 500 Utilities Index.
Unregistered Sales of Equity Securities and Uses of Proceeds
There were no sales of unregistered equity securities by the Company for the fiscal period ended December 31, 2024.
Issuer Purchases of Equity Securities
On May 31, 2024, the Company’s 2023 10b5-1 written trading plan under Rule 10b5-1 under the Exchange Act terminated in accordance with its terms. The Company did not adopt a new written trading plan under Rule 10b5-1 in 2024.
The following table provides information regarding repurchases by or on behalf of the Company of shares of its common stock for each month in the quarter ended December 31, 2024.
20
Period
Total
Number
of Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under the
Plans or Programs
10/1/24 – 10/31/24
—
$
—
$
—
11/1/24 – 11/30/24
—
—
—
$
—
12/1/24 – 12/31/24
—
—
—
$
—
Total
—
$
—
—
Item 6. Reserved
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