ADT 2011 Annual Report Download - page 133

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 as of November 7, 2011 was 25,945.
Tyco common shares are listed and traded on the NYSE 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.
Year Ended September 30, 2011 Year Ended September 24, 2010
Market Price Market Price
Dividends Declared Dividends Declared
Range Range
Per Common Per Common
Quarter High Low Share(1) High Low Share(1)
First ................... $42.31 $36.40 $0.24 $37.08 $33.32 $0.22
Second ................. 47.33 41.44 0.25 38.19 33.95 0.19
Third ................... 52.33 44.45 0.25 40.54 35.00 0.21
Fourth .................. 50.09 37.81 0.25 39.79 34.43 0.24
$0.99 $0.86
(1) All dividends declared through the first quarter of fiscal 2011 were denominated in Swiss francs.
Beginning in the second quarter of fiscal 2011 all dividends declared were denominated in U.S.
dollars. Amounts for 2010 and the first quarter of fiscal 2011 in the table above represent the U.S.
dollar equivalent of Swiss francs converted at the U.S. dollar/Swiss franc exchange rate shortly
before the payment dates. Dividends proposed by Tyco’s Board of Directors are subject to
shareholder approval. Shareholders approved annual dividends of CHF 0.90 and $1.00 at annual
meetings held on March 10, 2010, and March 9, 2011, respectively. At the time of approval, in
March 2010, the equivalent U.S. dollar amount of the CHF 0.90 dividend was $0.84.
Dividend Policy
Prior to May 2011, the Company paid dividends in the form of a return of share capital from the
Company’s registered share capital. These payments were made free of Swiss withholding taxes. The
Company now makes dividend payments from its contributed surplus equity position in its Swiss
statutory accounts. These payments are also made free of Swiss withholding taxes. Unlike payments
made in the form of a reduction to registered share capital, which are required to be denominated in
Swiss francs and converted to U.S. dollars at the time of payment, payments from the contributed
surplus account may effectively be denominated in U.S. dollars. Under Swiss law, the authority to
declare dividends is vested in the Company’s shareholders.
We expect to obtain shareholder approval of the annual dividend amount out of contributed
surplus each year at our annual general meeting, and we expect to distribute the approved dividend
amount in four quarterly installments, on dates determined by our Board of Directors. The timing,
declaration and payment of future dividends to holders of our common shares will depend upon many
factors, including our financial condition and results of operations, the capital requirements of our
businesses, industry practice and any other relevant factors. Future dividends will be proposed by our
Board of Directors and will require shareholder approval.
30 2011 Financials