Best Buy 2012 Annual Report Download - page 28

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28
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Market Information
Our common stock is traded on the New York Stock Exchange under the ticker symbol BBY. The table below sets forth the
high and low sales prices of our common stock as reported on the New York Stock Exchange — Composite Index during the
periods indicated.
Sales Price
High Low
Fiscal 2012
First Quarter $ 33.22 $ 28.09
Second Quarter 32.85 23.25
Third Quarter 28.36 21.79
Fourth Quarter 28.53 22.48
Fiscal 2011
First Quarter $ 48.83 $ 36.28
Second Quarter 42.65 30.90
Third Quarter 45.63 31.32
Fourth Quarter 44.62 32.00
Holders
As of April 26, 2012, there were 3,100 holders of record of our common stock.
Dividends
In fiscal 2004, our Board initiated the payment of a regular quarterly cash dividend with respect to shares of our common stock.
A quarterly cash dividend has been paid in each subsequent quarter. Our quarterly cash dividend for the first two quarters of
fiscal 2011 was $0.14 per share. For the remaining two quarters of fiscal 2011, and for the first two quarters of fiscal 2012, our
quarterly cash dividend was $0.15 per share. Our quarterly cash dividend for the remaining two quarters of fiscal 2012 was
$0.16 per share. The payment of cash dividends is subject to customary legal and contractual restrictions.
Future dividend payments will depend on our earnings, capital requirements, financial condition and other factors considered
relevant by our Board.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
From time to time, we repurchase our common stock in the open market pursuant to programs approved by our Board. We may
repurchase our common stock for a variety of reasons, such as acquiring shares to offset dilution related to equity-based
incentives, including stock options and our employee stock purchase plan, and optimizing our capital structure.
In June 2011, our Board authorized up to $5.0 billion of share repurchases. The program, which became effective on June 21,
2011, terminated and replaced a $5.5 billion share repurchase program authorized by our Board in June 2007. There is no
expiration date governing the period over which we can repurchase shares under the June 2011 program. During fiscal 2011,
we repurchased and retired 32.6 million shares at a cost of $1.2 billion. During fiscal 2012, we repurchased and retired 54.6
million shares at a cost of $1.5 billion. At the end of fiscal 2012, $4.1 billion of the $5.0 billion of share repurchases authorized
by our Board in June 2011 was available for future share repurchases.