PREFORMED LINE PRODUCTS CO
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
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Item 5. Market and dividend information
The Company’s common shares are traded on NASDAQ under the trading symbol “PLPC”. The following table sets forth for the periods indicated (i) the high and low closing sale prices per share of the Company’s common shares as reported by the NASDAQ and (ii) the amount per share of cash dividends paid by the Company.
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Quarter | High | Low | Dividend | High | Low | Dividend |
| First | $128.04 | $79.29 | $0.20 | $65.14 | $55.27 | $0.20 |
| Second | 172.40 | 119.62 | 0.20 | 64.99 | 58.40 | 0.20 |
| Third | 182.06 | 151.00 | 0.20 | 84.70 | 59.55 | 0.20 |
| Fourth | 162.36 | 110.28 | 0.20 | 94.34 | 71.80 | 0.20 |
While the Company expects to continue to pay dividends of a comparable amount in the near term, the declaration and payment of future dividends will be made at the discretion of the Company’s Board of Directors in light of the current needs of the Company. Therefore, there can be no assurance that the Company will continue to make such dividend payments in the future.
Number of common shareholders
As of February 23, 2024, the Company had approximately 6,582 shareholders of record.
Performance Graph
Historical share price performance should not be relied upon as an indication of future share price performance. The following graph compares the cumulative total return to holders of PLP's common shares against the cumulative total return of the NASDAQ Composite Index and the Hemscott Industry Group 627 (Industrial Electrical Equipment) (the “Peer Group Index”) for the five-year period ended December 31, 2023. The comparison of the cumulative total returns for each investment assumes that $100 was invested in PLP's common shares and the respective indices on December 31, 2018 through December 31, 2023 and assumes the reinvestment of dividends.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| PREFORMED LINE PRODUCTS CO | 100.00 | 112.84 | 129.90 | 124.25 | 161.44 | 261.18 |
| NASDAQ MARKET INDEX | 100.00 | 136.69 | 198.10 | 242.03 | 163.28 | 236.17 |
| PEER GROUP INDEX | 100.00 | 131.46 | 170.83 | 189.17 | 162.66 | 202.93 |
Repurchases of Equity Securities
On November 1, 2023, the Board of Directors authorized a new plan to repurchase up to an additional 212,952 of Preformed Line Products Company common shares, resulting in a total of 250,000 shares available for repurchase with no expiration date.
| Period | TotalNumber ofSharesPurchased | AveragePrice Paidper Share | Total Number ofShares Purchased asPart of PubliclyAnnounced Plans orPrograms | Maximum Numberof Shares that mayyet be Purchasedunder the Plans orPrograms |
|---|---|---|---|---|
| October | — | $— | — | 37,048 |
| November | 3,150 | $134.18 | 3,150 | 246,850 |
| December | — | $— | — | 246,850 |
| Total | 3,150 | |||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.