ADT 2008 Annual Report Download - page 136

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 November 13, 2008 was 28,365.
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 declared on
Tyco common shares, for the quarterly periods presented below. In connection with the Separation,
effective June 29, 2007, the Company effected a reverse stock split of Tyco’s common shares, at a split
ratio of one for four. Shareholder approval for the reverse stock split was obtained at the Special
General Meeting of Shareholders on March 8, 2007. Market price range was adjusted for the
Separation. Dividends per common share reflect the reverse stock split only.
Year Ended September 26, 2008 Year Ended September 28, 2007
Market Price Market Price
Dividends Declared Dividends Declared
Range Range
Per Common Per Common
Quarter High Low Share High Low Share
First ......................... $46.66 $37.88 $0.15 $48.69 $43.81 $0.40
Second ....................... 44.85 33.72 0.15 52.09 46.57 0.40
Third ......................... 47.41 40.08 0.15 53.83 49.88 0.80
Fourth ........................ 45.15 36.37 0.20 53.36 40.59 —
$0.65 $1.60
Dividend Policy
On September 9, 2008, Tyco’s Board of Directors approved a 33% increase in the Company’s
quarterly dividend from $0.15 to $0.20 per share payable in the first quarter of fiscal 2009. The 2007
dividend per common share in the above table represents that of Tyco pre-Separation, which included
Covidien and Tyco Electronics. The timing, declaration and payment of future dividends to holders of
our common shares, however, falls within the discretion of our Board of Directors and will depend
upon many factors, including the statutory requirements of Bermuda law, our financial condition and
results of operations, the capital requirements of our businesses, industry practice and any other factors
the Board of Directors deems relevant. Additionally, 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.
2008 Financials 33