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
The Company’s common stock is listed on the New York Stock Exchange under the symbol “UTL.” As of December 31, 2021, there were 1,236 shareholders of record of our common stock.
Common Stock Data
Dividends per Common Share
2021
2020
1st Quarter
$
0.380
$
0.375
2nd Quarter
0.380
0.375
3rd Quarter
0.380
0.375
4th Quarter
0.380
0.375
Total for Year
$
1.52
$
1.50
See “Dividends” in Part II, Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations).
Information regarding securities authorized for issuance under our equity compensation plans, as of December 31, 2021, is set forth in the following table.
Equity Compensation Plan Information
(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)
—
—
190,677
Equity compensation plans not approved by security holders
—
—
—
Total
—
—
190,677
NOTES: (also see Note 5 (Equity) to the accompanying Consolidated Financial Statements)
(1)
Consists of the Second Amended and Restated 2003 Stock Plan (the Plan). On April 19, 2012, shareholders approved the Plan, and a total of 677,500 shares of our common stock were reserved for issuance pursuant to awards of restricted stock, restricted stock units and common stock under the Plan. A total of 466,975 shares of restricted stock have been awarded and 33,528 restricted stock units have been settled and issued as shares of common stock by Plan participants through December 31, 2021. As of December 31, 2021, a total of 13,680 shares of restricted stock were forfeited and once again became available for issuance under the Plan.
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Table of Contents
Stock Performance Graph
The following graph compares Unitil Corporation’s cumulative stockholder return since December 31, 2016 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, 2016.
Comparative Five-Year Total Returns
NOTE:
(1)
The graph above assumes $100 invested on December 31, 2016, 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, 2021.
Issuer Purchases of Equity Securities
Pursuant to the written trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the Exchange Act), adopted and announced by the Company on May 1, 2021, the Company will periodically repurchase shares of its Common Stock on the open market related to the stock portion of the Directors’ annual retainer for those Directors who elected to receive common stock. There is no pool or maximum number of shares related to these purchases; however, the trading plan will terminate when $350,500 in value of shares have been purchased or, if sooner, on May 1, 2022.
The Company may suspend or terminate this trading plan at any time, so long as the suspension or termination is made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5
under the Exchange Act, or other applicable securities laws.
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The following table provides information regarding repurchases by the Company of shares of its common stock pursuant to the trading plan for each month in the quarter ended December 31, 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
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under the
Plans or Programs
10/1/21 – 10/31/21
8,012
$
43.746
8,012
$
11
11/1/21 – 11/30/21
—
—
—
$
11
12/1/21 – 12/31/21
—
—
—
$
11
Total
8,012
$
43.746
8,012
Item 6.
Reserved