Computer Associates 2007 Annual Report Download - page 38

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Part II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Our common stock is listed on the New York Stock Exchange. The following table sets forth, for the fiscal quarters indicated,
the quarterly high and low closing sales prices on the New York Stock Exchange:
HIGH LOW HIGH LOW
FISCAL YEAR 2007 FISCAL YEAR 2006
Fourth Quarter $ 27.21 $ 23.32 $ 29.36 $ 26.75
Third Quarter $ 25.28 $ 21.50 $ 29.45 $ 26.25
Second Quarter $ 24.28 $ 19.10 $ 29.37 $ 26.24
First Quarter $ 27.19 $ 20.55 $ 29.28 $ 26.80
On March 30, 2007, the closing price for our common stock on the New York Stock Exchange was $25.91. At March 31, 2007
we had approximately 10,400 stockholders of record.
We have paid cash dividends each year since July 1990. For fiscal year 2005, we paid a dividend of $0.08 per share. Beginning
in fiscal year 2006 we increased our annual cash dividend to $0.16 per share, which has been paid out in quarterly installments
of $0.04 per share as and when declared by the Board of Directors.
Purchases of Equity Securities by the Issuer
On June 29, 2006, our Board of Directors authorized a plan to repurchase up to $2 billion shares of common stock in fiscal year
2007. This plan replaced the prior $600 million common stock repurchase plan.We expected to finance the new plan through
a combination of cash on hand and bank financing.
On August 15, 2006, we announced the commencement of a $1 billion tender offer to repurchase outstanding common stock,
at a price not less than $22.50 and not greater than $24.50 per share.
On September 14, 2006, the expiration date of the tender offer, we accepted for purchase 41,225,515 shares at a purchase
price of $24.00 per share, for a total price of approximately $989 million, which excludes bank, legal and other associated
charges. Upon completion of the tender offer, we retired all of the shares that were repurchased.
The Company did not repurchase any of its common stock in the fourth quarter of fiscal year 2007.
On May 23, 2007, the Company announced that as part of its previously authorized share repurchase plan of up to $2 billion, it
will repurchase up to $500 million of its shares under an Accelerated Share Repurchase program (ASR). The Company
anticipates that the ASR will be completed during the first half of fiscal year 2008. Any potential future repurchases will be
considered by the Company in the normal course of business.
26