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We have issued and outstanding two classes of common stock, Class A common stock and Class B common stock.
−Removed: Holders of Class B common stock own a corresponding number of CW Units which may be redeemed for shares of Class A common stock.
+Added: Holders of Class B common stock own a corresponding number of CC Units which may be redeemed for shares of Class A common stock.
The principal market for our Class A common stock is the New York Stock Exchange (“NYSE”), where it is traded under the symbol “WHD.” No public trading market currently exists for our Class B common stock.
−Removed: As of December 31, 2021, there were three holders of record of our Class A common stock.
−Removed: This number excludes owners for whom Class A common stock may be held in “street name.” There were seven holders of record of our Class B common stock.
−Removed: In October 2019, our board of directors authorized the introduction of a regular quarterly cash dividend of $0.09 per share of Class A common stock.
+Added: As of December 31, 2022, there were two holders of record of our Class A common stock.
+Added: This number excludes owners for whom Class A common stock may be held in “street name.” As of December 31, 2022, there were six holders of record of our Class B common stock.
+Added: We have paid a regular quarterly cash dividend on our Class A common stock as approved by our board of directors since December 2019.
Dividends are not paid to our Class B common stock holders;
−Removed: however, a corresponding distribution up to the same amount per share as our Class A common stockholders is paid to our CW Unitholders for any dividends declared on our Class A common stock.
−Removed: We have paid quarterly dividends uninterrupted since initiation of the program and in July 2021, our board of directors approved an increase in the quarterly cash dividend to $0.10 per share of Class A common stock.
−Removed: In fiscal year 2021, the annual dividend rate for our Class A common stock was $0.38 per share compared to $0.36 per share in fiscal year 2020.
−Removed: In January 2022, our board of directors approved an additional increase in the quarterly cash dividend of $0.01 per share to $0.11 per share of Class A common stock.
+Added: however, a corresponding distribution up to the same amount per share as our Class A common stockholders is paid to our CW Unit Holders (or, for any dividends declared after the completion of the CC Reorganization, to the CC Unit holders) for any dividends declared on our Class A common stock.
+Added: We have paid quarterly dividends uninterrupted since initiation of the cash dividend program and the approved dividend per share amount has increased from the initial amount of $0.09 per share to $0.10 per share in September 2021 to the current amount of $0.11 per share of Class A common stock.
+Added: In fiscal year 2022, the annual dividend rate for our Class A common stock was $0.44 per share compared to $0.38 per share in fiscal year 2021 and $0.36 per share in fiscal year 2020.
We currently intend to continue paying the quarterly dividend at the current levels while retaining the balance of future earnings, if any, to finance the growth of our business.
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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.