SKYWORKS SOLUTIONS INC
For the period ended Sep 27, 2024. Filed Nov 15, 2024.
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FY2024 · Filed Nov 15, 2024
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Item 5. Market Information and Dividends
Our common stock is traded on the Nasdaq Global Select Market under the symbol “SWKS”.
The number of stockholders of record of our common stock as of November 12, 2024, was 7,658. On November 12, 2024, the Company announced that the Board of Directors had declared a cash dividend of $0.70 per share of common stock, payable on December 24, 2024, to stockholders of record as of December 3, 2024. We pay, and intend to continue to pay, quarterly dividends subject to capital availability and periodic determinations made by our Board of Directors that cash dividends are in the best interests of our stockholders.
Future cash dividends may be affected by, among other items, our views on potential future capital requirements, including those relating to research and development, creation and expansion of investments and acquisitions, stock repurchase programs, debt issuances and repayments, changes in federal and state income tax law, and changes to our business model.
Issuer Purchases of Equity Securities
The following table provides information regarding repurchases of common stock made during the three months ended September 27, 2024:
| Period · Total Number of Shares Purchased · Average Price Paid per Share · Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) · Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1) (2) | |||||
|---|---|---|---|---|---|
| 06/29/24 - 07/26/24 | 6,244 | (3) | $116.18 | — | $1.9 billion |
| 07/27/24 - 08/23/24 | 10,615 | (3) | $108.30 | — | $1.9 billion |
| 08/24/24 - 09/27/24 | 395 | (3) | $107.70 | — | $1.9 billion |
| 17,254 | — | ||||
(1) We announced on February 6, 2023 that our Board of Directors had approved a stock repurchase program on January 31, 2023, which authorizes the repurchase of up to $2.0 billion of our common stock from time to time on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements, and which is scheduled to expire on February 1, 2025.
(2) The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. Excise tax incurred reduces the amount available under the repurchase program, as applicable, and is included in the cost of shares repurchased in the Consolidated Statement of Stockholders’ Equity.
(3) Represents shares repurchased by us at the fair market value of the common stock as of the applicable purchase date, in connection with the satisfaction of tax withholding obligations under equity award agreements.
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