Aarons 2011 Annual Report Download - page 47

MARKET INFORMATION, HOLDERS AND DIVIDENDS
Effective December 13, 2010, all shares of the Common Stock began
trading as a single class on the New York Stock Exchange under the
ticker symbol “AAN.” The CUSIP number of the Common Stock is
002535300.
The number of shareholders of record of the Company’s
Common Stock at February 22, 2012 was 270. The closing price
for the Common Stock at February 22, 2012 was $27.97.
The following table shows the range of high and low closing
prices per share for the Company’s former Nonvoting Common
Stock and Company’s former Class A Common Stock (now known
as the Common Stock) and the quarterly cash dividends declared
per share for the periods indicated.
Cash
Dividends
Common Stock High Low Per Share
DECEMBER 31, 2011
First Quarter $25.52 $19.16 $.013
Second Quarter 29.29 24.79 .013
Third Quarter 29.34 22.17 .013
Fourth Quarter 29.10 23.24 .015
DECEMBER 31, 2011
Fourth Quarter
(December 13, 2010 –
December 31, 2010)1 $20.67 $19.73 $.013
Cash
Dividends
Former Nonvoting Common Stock High Low Per Share
DECEMBER 31, 2010
First Quarter2 $ 22.47 $ 18.25 $.012
Second Quarter2 24.32 17.05 .012
Third Quarter 18.62 16.16 .012
Fourth Quarter
(October 1, 2010 –
December 10, 2010)1 22.53 16.92 NA
Cash
Dividends
Former Class A Common Stock High Low Per Share
DECEMBER 31, 2010
First Quarter2 $18.10 $14.60 $.012
Second Quarter2 19.85 13.55 .012
Third Quarter 18.40 13.00 .012
Fourth Quarter
(October 1, 2010 –
December 10, 2010)1 21.03 16.81 NA
(1) Effective December 13, 2010 shares of the former Nonvoting Common
Stock were converted into shares of Class A Common Stock and the Class A
Common Stock was renamed Common Stock.
(2) Shares have been adjusted for the effect of the 3-for-2 partial stock split
distributed on April 15, 2010 and effective April 16, 2010.
Subject to our ongoing ability to generate sufficient income, any
future capital needs and other contingencies, we expect to continue
our policy of paying quarterly dividends. Under our revolving
credit agreement, we may pay cash dividends in any year only if
the dividends do not exceed 50% of our consolidated net earnings
for the prior fiscal year plus the excess, if any, of the cash dividend
limitation applicable to the prior year over the dividend actually paid
in the prior year.
Issuer Purchases of Equity Securities
The Company repurchased 5,075,675 shares of Common Stock
during 2011 at an average price of $25.06 under our publically-
announced share repurchase program for repurchase at the discretion
of the Chief Financial Officer. As of December 31, 2011, 5,281,344
Common Stock shares remained available for repurchase under the
purchase authority approved by the Company’s Board of Directors
and publicly announced from time-to-time.
The following table provides information regarding our
Common Stock repurchases. All repurchases were made on the
open market.
Issuer Purchases of Equity Securities
(d) Maximum
Number (or
(c) Total Approximate
Number of Dollar Value)
Shares of Shares that
Purchased as May Yet Be
Part of Publicly Purchased
(a) Total Number (b) Average Announced Under the
Common Stock Price Paid Plans Plans or
Period Purchased Per Share or Programs Programs
October 1
through
October 31, 2011 — — — 5,281,344
November 1
through
November 30, 2011 — — — 5,281,344
December 1
through
December 31, 2011 — — — 5,281,344
QTD Total — — —
Information concerning the Company’s equity compensation plans is
set forth in Item 12 of Part III of our Annual Report on Form 10-K
for the year ended December 31, 2011 filed with the SEC.
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