Amount available for stock repurchases under a board approved stock repurchase plan

  
16. Stockholders’ equityStock repurchase programActivity under our stock repurchase program, on a trade date basis, was as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Years ended December 31, |
|  | 2021 |  | 2020 |  | 2019 |
|  | Shares |  | Dollars |  | Shares |  | Dollars |  | Shares\* |  | Dollars |
| First quarter | 3.7  |  |  | $ | 865  |  |  | 4.3  |  |  | $ | 933  |  |  | 15.9  |  |  | $ | 3,031  |  |
| Second quarter | 6.5  |  |  | 1,592  |  |  | 2.6  |  |  | 591  |  |  | 13.1  |  |  | 2,349  |  |
| Third quarter | 4.6  |  |  | 1,069  |  |  | 3.0  |  |  | 752  |  |  | 6.2  |  |  | 1,170  |  |
| Fourth quarter | 6.9  |  |  | 1,461  |  |  | 5.3  |  |  | 1,221  |  |  | 5.1  |  |  | 1,090  |  |
| Total stock repurchases | 21.7  |  |  | $ | 4,987  |  |  | 15.2 |  | $ | 3,497  |  |  | 40.2 |  | $ | 7,640  |  |

\* Total shares do not add due to rounding.In March 2021, October 2021 and December 2021, our Board of Directors increased the amount authorized under our stock repurchase program by an additional $3.4 billion, $4.5 billion and $5.0 billion, respectively. As of December 31, 2021, $10.9 billion remained available under our stock repurchase program. DividendsOur Board of Directors declared quarterly dividends per share of $1.76, $1.60 and $1.45, which were paid in each of the four quarters of 2021, 2020 and 2019, respectively.Historically, we have declared dividends in December of each year, which were paid in the first quarter of the following fiscal year and in March, July and October, which were paid in the second, third and fourth quarters, respectively, of the same fiscal year. Additionally, on December 3, 2021, the Board of Directors declared a quarterly cash dividend of $1.94 per share of common stock, which will be paid on March 8, 2022, to all stockholders of record as of the close of business on February 15, 2022.F-37
