Advance Auto Parts 2004 Annual Report Download - page 56

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Market฀for฀Registrant’s฀Common฀Equity,฀Related฀Stockholder฀Matters฀and฀Issuer฀Purchases฀฀
of฀Equity฀Securities
฀ Stockholders฀may฀obtain฀free฀of฀charge฀a฀copy฀of฀the฀Company’s฀Annual฀Report฀on฀Form฀10-K฀as฀filed฀with฀the฀Securities฀
and฀Exchange฀Commission฀by฀writing฀to฀the฀Investor฀Relations฀Department,฀P.O.฀Box฀2710,฀Roanoke,฀Virginia฀24001฀or฀
by฀accessing฀the฀Company’s฀website฀at฀www.AdvanceAutoParts.com.
SEC฀Form฀10-K
฀ Our฀ common฀ stock฀ is฀ listed฀ on฀ the฀ New฀ York฀ Stock฀
Exchange,฀ or฀NYSE,฀ under฀ the฀symbol฀“AAP.”฀ The฀table฀
below฀sets฀forth,฀for฀the฀fiscal฀periods฀indicated,฀the฀high฀
and฀ low฀ sale฀ prices฀ per฀ share฀ for฀ our฀ common฀ stock,฀ as฀
reported฀by฀the฀NYSE.
High Low
Fiscal฀Year฀Ended฀January฀1,฀2005
Fourth฀Quarter฀........................................................... $43.75 $33.42
Third฀Quarter฀............................................................ $37.94 $33.02
Second฀Quarter฀.......................................................... $46.17 $37.24
First฀Quarter฀.............................................................. $44.41 $38.17
Fiscal฀Year฀Ended฀January฀3,฀2004
Fourth฀Quarter฀........................................................... $41.83 $36.43
Third฀Quarter฀............................................................ $37.60 $31.93
Second฀Quarter฀.......................................................... $32.16 $23.78
First฀Quarter฀.............................................................. $25.13 $18.50
฀ The฀ closing฀ price฀ of฀ our฀ common฀ stock฀ on฀ March฀ 9,฀
2005฀was฀$50.57.฀The฀table฀gives฀effect฀to฀our฀two-for-one฀
stock฀ split฀ effectuated฀ in฀ the฀ form฀ of฀ a฀ 100%฀ stock฀ divi-
dend฀distributed฀on฀January฀2,฀2004,฀as฀trading฀began฀on฀a฀
post-split฀ basis฀ on฀ January฀ 5,฀ 2004.฀ At฀ March฀ 9,฀ 2005,฀
there฀were฀439฀holders฀of฀record฀of฀our฀common฀stock.
฀ We฀ have฀ not฀ declared฀ or฀ paid฀ cash฀ dividends฀ on฀ our฀
common฀stock฀in฀the฀last฀two฀years.฀We฀anticipate฀that฀we฀
will฀retain฀all฀of฀our฀earnings฀in฀the฀foreseeable฀future฀to฀
finance฀ the฀ expansion฀ of฀ our฀ business฀ and,฀ therefore,฀ do฀
not฀anticipate฀paying฀any฀dividends฀on฀our฀common฀stock.฀
In฀ addition,฀ our฀ amended฀ senior฀ credit฀ facility฀ contains฀
restrictions฀on฀the฀amount฀of฀cash฀dividends฀or฀other฀dis-
tributions฀ we฀ may฀ declare฀ and฀ pay฀ on฀ our฀ capital฀ stock.฀
Any฀ payments฀ of฀ dividends฀ in฀ the฀ future฀ will฀ be฀ at฀ the฀฀
discretion฀of฀our฀Board฀of฀Directors฀and฀will฀depend฀upon฀
our฀ results฀ of฀ operations,฀ earnings,฀ capital฀ requirements,฀
contractual฀ restrictions฀ contained฀ in฀ our฀ amended฀ senior฀
credit฀ facility,฀ or฀ other฀ agreements,฀ and฀ other฀ factors฀
deemed฀relevant฀by฀our฀Board฀of฀Directors.
฀ The฀ following฀ table฀ sets฀ forth฀ information฀ with฀ respect฀ to฀ repurchases฀ of฀ our฀ common฀ stock฀ for฀ the฀ quarter฀ ended฀
January฀1,฀2005฀(amounts฀in฀thousands,฀except฀per฀share฀amounts):
Period
Total฀Number฀฀
of฀Shares฀฀
Purchased
Average฀฀
Price฀Paid฀
per฀Share
Total฀Number฀of฀Shares฀
Purchased฀as฀Part฀of฀
Publicly฀Announced฀฀
Plans฀or฀Programs(1)
Maximum฀Dollar฀Value฀
that฀May฀Yet฀Be฀
Purchased฀Under฀the฀
Plans฀or฀Programs(1)(2)
October฀10,฀2004฀to฀November฀6,฀2004฀.................................... — — — $150,059
November฀7,฀2004฀to฀December฀4,฀2004฀................................... 1,348 $41.72 1,348 ฀ ฀ 93,826
December฀5,฀2004฀to฀January฀1,฀2005฀....................................... 959 ฀ 41.73 959 53,778
Total฀............................................................................................ 2,307 $41.72 2,307 $฀ 53,778
(1)฀฀All฀of฀the฀above฀repurchases฀were฀made฀on฀the฀open฀market฀at฀prevailing฀market฀rates฀plus฀related฀expenses฀under฀our฀stock฀repurchase฀program,฀which฀was฀autho-
rized฀by฀our฀Board฀of฀Directors฀and฀publicly฀announced฀on฀August฀11,฀2004,฀for฀a฀maximum฀of฀$200฀million฀in฀common฀stock฀and฀which฀expires฀on฀August฀10,฀2005.
(2)฀฀The฀maximum฀dollar฀value฀yet฀to฀be฀purchased฀under฀our฀stock฀repurchase฀program฀excludes฀related฀expenses฀paid฀on฀previous฀purchases฀or฀anticipated฀expenses฀on฀
future฀purchases.