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
Market Information for Common Stock
Our Class A common stock trades on the New York Stock Exchange and our CDIs are traded on the ASX, both under the symbol “XYZ”. There is no public trading market for our Class B common stock.
Holders of Record
As of February 18, 2025, there were 504 holders of record of our Class A common stock and 24 holders of record of our Class B common stock. Because many of our shares of Class A common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial owners of our Class A common stock represented by these record holders. As of February 18, 2025, we have approximately 39,934 holders of record of our CDIs.
Dividend Policy
We have never declared nor paid any cash dividends on our capital stock. We do not expect to pay any dividends on our capital stock in the foreseeable future. Any future determination relating to our dividend policy will be at the discretion of our board of directors, subject to applicable laws, and will depend on our financial condition, results of operations, capital requirements, general business conditions, and other factors that our board of directors considers relevant.
Issuer Purchases of Equity Securities
In October 2023, the Company's board of directors authorized the repurchase of up to $1 billion of the Company’s Class A common stock. On July 25, 2024, the Company's board of directors authorized an increase to the Company's share repurchase program to repurchase up to an additional $3 billion of the Company’s Class A common stock, for a total overall authorization of $4 billion. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate the Company to acquire any particular amount of its Class A common stock and may be suspended at any time at the Company’s discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors.
The following table summarizes the share repurchase activity for the three months ended December 31, 2024 (in thousands, except per share amounts):
Period
Total Number of Shares Purchased Average price paid per share (i)
Total number of shares purchased as part of publicly announced plans or program
Approximate dollar value of shares that may yet be purchased under the plans or programs
October 1, 2024 - October 31, 2024
1,090 $ 70.44 1,090 $ 2,779,232
November 1, 2024 - November 30, 2024
653 $ 82.50 653 $ 2,725,360
December 1, 2024 - December 31, 2024
567 $ 92.61 567 $ 2,672,850
Total
2,310 2,310
(i) Average price paid per share for open market purchases includes broker commissions.
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Unregistered Sales of Equity Securities
None.
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Performance Graph
This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of Block, Inc. under the Exchange Act or the Securities Act of 1933, as amended.
The following graph compares the cumulative total return to stockholders of our common stock relative to the cumulative total returns of the Standard & Poor’s 500 Index ("S&P 500"), and the S&P North American Technology Index. An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our Class A common stock and in each index on the last trading day for the fiscal year ended December 31, 2019 and its relative performance is tracked through December 31, 2024. The returns shown are based on historical results and are not intended to suggest future performance.
Company/Index 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Block, Inc. $ 100.00 $ 347.89 $ 258.17 $ 100.45 $ 123.64 $ 135.85
S&P 500 $ 100.00 $ 118.40 $ 152.39 $ 124.79 $ 157.59 $ 197.02
S&P North American Technology $ 100.00 $ 145.15 $ 183.47 $ 118.60 $ 191.10 $ 260.04
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ITEM 6. [RESERVED]
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