Cisco 2012 Annual Report Download - page 82

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Stock Repurchase Program
In September 2001, our Board of Directors authorized a stock repurchase program. As of July 28, 2012, our
Board of Directors had authorized an aggregate repurchase of up to $82 billion of common stock under this
program, and the remaining authorized repurchase amount was $5.9 billion with no termination date. The stock
repurchase activity under the stock repurchase program, reported based on the trade date is summarized as
follows (in millions, except per-share amounts):
Shares
Repurchased
Weighted-
Average Price
per Share
Amount
Repurchased
Cumulative balance at July 31, 2010 .............................. 3,127 $20.78 $64,982
Repurchase of common stock under the stock repurchase program ...... 351 19.36 6,791
Cumulative balance at July 30, 2011 ............................ 3,478 $20.64 $71,773
Repurchase of common stock under the stock repurchase program .. 262 16.64 4,360
Cumulative balance at July 28, 2012 ............................ 3,740 $20.36 $76,133
Dividends
During fiscal 2012 and 2011, our Board of Directors declared the following dividends (in millions,except
per-share amounts):
Declaration Date
Dividend
per Share Record Date Amount Payment Date
Fiscal 2012
June 14, 2012 ............................... $0.08 July 5, 2012 $ 425 July 25, 2012
February 7, 2012 ............................ 0.08 April 5, 2012 432 April 25, 2012
December 15, 2011 ........................... 0.06 January 5, 2012 322 January 25, 2012
September 20, 2011 .......................... 0.06 October 6, 2011 322 October 26, 2011
Total .................................. $0.28 $1,501
Fiscal 2011
June 8, 2011 ................................. $0.06 July 7, 2011 $ 329 July 27, 2011
March 17, 2011 .............................. 0.06 March 31, 2011 329 April 20, 2011
Total ....................................... $0.12 $ 658
On August 14, 2012 our Board of Directors declared a quarterly dividend of $0.14 per common share, a six-cent
increase over the previous quarter’s dividend, to be paid on October 24, 2012 to all shareholders of record as of
the close of business on October 4, 2012. Any future dividends will be subject to the approval of our Board of
Directors.
Liquidity and Capital Resource Requirements
Based on past performance and current expectations, we believe our cash and cash equivalents, investments, cash
generated from operations and ability to access capital markets and committed credit lines will satisfy, through at
least the next 12 months, our liquidity requirements, both in total and domestically, including the following:
working capital needs, capital expenditures, investment requirements, stock repurchases, cash dividends,
contractual obligations, commitments, principal and interest payments on debt, future customer financings, and
other liquidity requirements associated with our operations. There are no other transactions, arrangements, or
relationships with unconsolidated entities or other persons that are reasonably likely to materially affect the
liquidity and the availability of, as well as our requirements for capital resources.
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