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.
In June 2021, we became subject to the reporting requirements of the Securities Exchange Act of 1934 (as amended, the “Exchange Act”). Our ordinary shares began trading on the Nasdaq Global Select Market on June 2, 2021 under the ticker symbol “WFRD.” As of February 1, 2025, we had 68 shareholders of record. The actual number of shareholders is considerably greater than the number of shareholders of record and includes shareholders who are beneficial owners but whose shares are held in street name by brokers and other nominees.
On July 23, 2024, we announced our shareholder returns program, including our Board of Directors authorization of a dividend program under which we intend to pay regular quarterly cash dividends, subject to our Board’s discretion. During the twelve months ended December 31, 2024, we paid $36 million in dividends and accrued $2 million in dividend equivalent rights on share-based awards. Dividends are authorized and determined by our Board of Directors at its sole discretion and depend upon a number of factors, including our financial results, cash requirements, capital management plans, changes in applicable laws, contractual restrictions, such as financial or operating covenants, and future prospects, as well as such other factors deemed relevant by our Board of Directors. We can provide no assurance that we will pay dividends at current levels or at all. See “Note 19 – Subsequent Event” for detail regarding our latest declared dividend.
The following graph shows a comparison of cumulative total shareholder return on our ordinary shares, the Dow Jones U.S. Index (“DJI”), the Dow Jones U.S. Oil Equipment and Services Index (“DJUSOI”), the Philadelphia Oil Service Index (“OSX”), the VanEck Oil Services ETF (“OIH”) and the Standard & Poor’s 500 Index (“S&P 500”) from June 2, 2021 (date we began trading on NASDAQ) through 2024. The graph assumes $100 was invested in each of the Company’s ordinary shares, and aforementioned indices. Note that past stock price performance is not necessarily indicative of future stock price performance.
Weatherford International plc – 2024 Form 10-K | 23
Table of Contents Item 5 | Market for Registrants Ordinary Shares
Weatherford International plc – 2024 Form 10-K | 24
06/02/21 12/31/21 12/31/22 12/31/23 12/31/24
Weatherford International plc $100 $216 $398 $764 $559
Dow Jones U.S. Oil Equipment and Services Index $100 $95 $130 $135 $161
Dow Jones U.S. Index $100 $105 $96 $109 $123
Philadelphia Oil Service Index
$100 $82 $131 $131 $113
VanEck Oil Services ETF
$100 $83 $136 $139 $122
Standard & Poor’s 500 Index
$100 $113 $91 $114 $140
The following is a summary of our repurchases of our ordinary shares during the three months ended December 31, 2024.
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of a Publicly Announced Program (1)
Maximum Dollar Value of Shares that may yet be Purchased Under the Program (1)
October 1 - 31
122,366 $86.56 122,366 $439,200,231
November 1 - 30
222,177 $84.02 222,177 $420,533,493
December 1 - 31
261,357 $74.99 261,357 $400,933,372
Total
605,900 $80.64 605,900
(1) On July 23, 2024, we announced a program under which we may repurchase our ordinary shares from time to time, up to $500 million through June 2027. Approximately $401 million remained authorized for repurchases as of December 31, 2024. From the inception of this program through December 31, 2024, we have repurchased approximately 1.1 million ordinary shares for $99.1 million.
Weatherford International plc – 2024 Form 10-K | 25
T a ble of Contents Item 7 | MD&A
Item 6. [Reserved]