ADT 2006 Annual Report Download - page 97

PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities
The number of registered holders of Tyco’s common shares at December 6, 2006 was 46,148.
Tyco common shares are listed and traded on the New York Stock Exchange (‘‘NYSE’’) and the
Bermuda Stock Exchange under the symbol ‘‘TYC.’’ The following table sets forth the high and low
closing sales prices of Tyco common shares as reported by the NYSE, and the dividends paid on Tyco
common shares, for the quarterly periods presented below.
Year Ended September 29, 2006 Year Ended September 30, 2005
Market Price Market Price
Range Range
Dividend Per Dividend Per
Quarter High Low Common Share High Low Common Share
First ...................... $ 29.58 $ 25.71 $0.1000 $36.27 $29.78 $0.0125
Second .................... 31.04 24.80 0.1000 36.37 33.18 0.1000
Third ...................... 28.50 25.78 0.1000 34.44 28.53 0.1000
Fourth ..................... 27.99 25.23 0.1000 30.96 27.00 0.1000
$0.4000 $0.3125
Dividend Policy
We may from time to time enter into financing agreements that contain financial covenants and
restrictions, some of which may limit the ability of Tyco to pay dividends. Future dividends on our
common shares, if any, will be at the discretion of our Board of Directors and will depend on, among
other things, our results of operations, cash requirements and surplus, financial condition, contractual
restrictions and other factors that the Board of Directors may deem relevant. On December 9, 2004,
the Board of Directors approved an increase in the quarterly dividend on our common shares from
$0.0125 to $0.10 per share. Following the Proposed Separation, we expect that all three companies will
be dividend-paying companies, however, such payments will be at the discretion of each company’s
Board of Directors.
Issuer Purchases of Equity Securities
Total Number of Maximum Number of
Average Shares Purchased as Shares that May Yet Be
Total Number Price Part of Publicly Purchased Under
of Shares Paid per Announced Plans or Publicly Announced
Period Purchased Share Programs Plans or Programs
7/1/06–7/28/06 .................. 4,900,000 $27.36 4,900,000 —
7/29/06–9/1/06 .................. 13,364,600 $26.04 13,364,600 —
9/2/06–9/29/06 .................. 5,439,200 $26.35 5,439,200 —
The transactions described in the table above represent the repurchase of common shares on the
NYSE as part of the $2.0 billion share repurchase program approved by the Board of Directors in
May 2006. The average price paid per share is calculated by dividing the total cash paid for the shares
by the total number of shares repurchased. Approximately $659 million remained outstanding under
this share repurchase program at September 29, 2006. The Company, through an affiliate, also acquires
shares from certain employees in order to satisfy employee tax withholding requirements in connection
with the vesting of restricted shares. Approximately 31,000 shares were acquired in these vesting-related
transactions outside of the share repurchase program during the quarter ended September 29, 2006.
2006 Financials 35