KINGSWAY FINANCIAL SERVICES INC
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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FY2023 · Filed Mar 5, 2024
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Item 5. Market Information
Our common shares are listed on the New York Stock Exchange ("NYSE") under the trading symbol "KFS."
The following table sets forth, for the calendar quarters indicated, the high and low sales price for our common shares as reported on the NYSE.
| NYSE | ||
|---|---|---|
| High - US$ | Low - US$ | |
| Quarter 4 | $8.61 | $6.46 |
| Quarter 3 | 9.01 | 7.55 |
| Quarter 2 | 9.16 | 8.09 |
| Quarter 1 | 10.27 | 7.85 |
| Quarter 4 | $8.08 | $5.88 |
| Quarter 3 | 7.81 | 5.69 |
| Quarter 2 | 5.70 | 5.15 |
| Quarter 1 | 5.60 | 5.08 |
Shareholders of Record
As of March 4, 2024 the closing sales price of our common shares as reported by the NYSE was$9.25 per share.
Asof March 5, 2024, we had 28,121,271 common shares issued and outstanding. As of March 5, 2024, there were 10 shareholders of record of our common stock. The number of shareholders of record includes one single shareholder, Cede & Co., for all of the shares held by our shareholders in individual brokerage accounts maintained at banks, brokers and institutions.
Dividends
The Company has not declared a dividend since the first quarter of 2009. The declaration and payment of dividends is subject to the discretion of our Board of Directors after taking into account many factors, including financial condition, results of operations, anticipated cash needs and other factors deemed relevant by our Board of Directors. For a discussion of our cash resources and needs, see the "Liquidity and Capital Resources" section of MD&A.
Securities Authorized for Issuance under Equity Compensation Plans
The information required related to securities authorized for issuance under equity compensation plans is incorporated herein by reference to the Proxy Statement for our 2023 Annual Meeting of Shareholders, which will be filed with the SEC no later than 120 days after the end of our fiscal year ended December 31, 2023.
Recent Sales of Unregistered Securities
During the year ended December 31, 2023, we did not have any unregistered sales of our equity securities.
Issuer Purchases of Equity Securities
On March 21, 2023, the Company's Board of Directors approved a security repurchase program under which the Company is authorized to repurchase up to $10.0 million of its currently issued and outstanding securities through March 22, 2024. See Note 20 ,"Shareholders' Equity," for further discussion of the share repurchase program.
The following table provides information about our repurchases of our securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 during the quarter ended December 31, 2023.
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in thousands) |
|---|---|---|---|---|
| October 1 - 31, 2023 | 137,231 | $7.27 | 137,231 | $4,221 |
| November 1 - 30, 2023 | 143,800 | $7.45 | 143,800 | $3,150 |
| December 1- 31, 2023 | 42,000 | $7.55 | 42,000 | $2,833 |
| Total | 323,031 | $7.38 | 323,031 |
During the quarter ended December 31, 2023, all repurchases of our securities were common stock.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.