GENTEX CORP
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Item 4. Mine Safety Disclosures
Not applicable.
PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
(a) The Company’s common stock trades on The Nasdaq Global Select Market®under the symbol GNTX. As of February 1, 2024, there were 5,005 record-holders of the Company’s common stock and restricted common stock.
See Item 12 of Part III with respect to "Equity Compensation Plan Information", which is incorporated herein by reference.
Stock Performance Graph: The following graph depicts the cumulative total return on the Company’s common stock compared to the cumulative total return on the Nasdaq Composite Index (all U.S. companies) and the Dow Jones U.S. Auto Parts Index (excluding tire and rubber makers). The graph assumes an investment of $100 on the last trading day of 2018 and reinvestment of dividends in all cases.
In February 2022, the Board approved a continuing resolution to pay a quarterly dividend at a rate of $0.120 per share until the Board takes other action with respect to the payment of dividends. The Company intends to continue to pay a quarterly cash dividend and will consider future dividend rate adjustments based on the Company’s financial condition, profitability, cash flow, liquidity and other relevant business factors.
(b) Not applicable.
(c) The Company has in place and has announced a share repurchase plan. As previously disclosed, the Company may purchase authorized shares of its common stock under the plan based on a number of factors, including: market, economic, and industry conditions; the market price of the Company's common stock; anti- dilutive effect on earnings; available cash; and other factors that the Company deems appropriate. The plan does not have an expiration date, but the Board of Directors reviews such plan periodically.
The following is a summary of share repurchase activity during 2023:
| Issuer Purchase of Equity Securities | |||||
|---|---|---|---|---|---|
| Period · Total Number of Shares Purchased · Average Price Paid Per Share · Total Number of Shares Purchased As Part of a Publicly Announced Plan* · Maximum Number of Shares That May Yet Be Purchased Under the Plan* | |||||
| January 2023 | — | $— | — | 20,783,165 | |
| February 2023 | 46,835 | 28.58 | 46,835 | 20,736,330 | |
| March 2023 | 1,000,091 | 27.12 | 1,000,091 | 19,736,239 | |
| April 2023 | — | — | — | 19,736,239 | |
| May 2023 | 400,062 | 26.78 | 400,062 | 19,336,177 | |
| June 2023 | 520,312 | 27.64 | 520,312 | 18,815,865 | |
| July 2023 | — | — | — | 18,815,865 | |
| August 2023 | 210,525 | 32.51 | 210,525 | 18,605,340 | |
| September 2023 | 565,963 | 32.38 | 565,963 | 18,039,377 | |
| October 2023 | 150,127 | 28.76 | 150,127 | 17,889,250 | |
| November 2023 | 1,296,575 | 30.45 | 1,296,575 | 16,592,675 | |
| December 2023 | 741,496 | 31.70 | 741,496 | 15,851,179 | |
| Total | 4,931,986 | 4,931,986 | |||
- See above paragraph with respect to the publicly announced share repurchase plan
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.