DIRECTV 2012 Annual Report Download - page 52

DIRECTV
PART II Information regarding compensation plans under which our equity securities
may be issued is included in Item 12 through incorporation by reference to our
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, Proxy Statement for the Annual Meeting of Stockholders scheduled to be held on
RELATED STOCKHOLDER MATTERS AND ISSUER May 2, 2013.
PURCHASES OF EQUITY SECURITIES
Common Stock Price Share Repurchase Programs
Our common stock is publicly traded on the NASDAQ Global Select Market Since 2006 our Board of Directors has approved multiple authorizations for
under the symbol ‘‘DTV.’’ The following table sets forth for the quarters indicated the repurchase of our common stock. In February 2013, our Board of Directors
the high and low sales prices for our common stock, as reported on the NASDAQ terminated the remaining $857 million available under the 2012 authorization and
Global Select Market. authorized up to an additional $4 billion for repurchases of our common stock.
The authorizations allow us to repurchase our common stock from time to time
2012 High Low through open market purchases and negotiated transactions or otherwise. The
Fourth Quarter .................................. $54.08 $48.00 timing, nature and amount of such transactions will depend on a variety of factors,
Third Quarter ................................... 55.17 46.59 including market conditions and the program may be suspended, discontinued or
Second Quarter .................................. 50.35 42.87 accelerated at any time. The sources of funds for the purchases are our existing cash
First Quarter .................................... 49.99 41.92 on hand, cash from operations and potential additional borrowings. Purchases are
made on the open market, through block trades and other negotiated transactions.
2011 High Low Repurchased shares are retired but remain authorized for registration and issuance
Fourth Quarter .................................. $48.60 $39.82 in the future.
Third Quarter ................................... 53.40 40.22
Second Quarter .................................. 51.23 45.52 A summary of the repurchase activity for the three months ended
First Quarter .................................... 47.40 40.20 December 31, 2012 is as follows:
As of the close of business on February 13, 2013, there were 46,169 holders Total Number of Maximum Dollar
of record of our common stock. Shares Purchased Value that May
Total Number as Part of Publicly Yet Be Purchased
of Shares Average Price Announced Plans Under the Plans
Dividend Rights and Other Stockholder Matters Period Purchased Paid Per Share or Programs or Programs
(Amounts in Millions, Except Per Share Amounts)
Holders of our common stock are entitled to such dividends and other October 1 - 31, 2012 . . . 8 $51.45 8 $2,579
distributions in cash, stock or property as may be declared by our Board of November 1 - 30, 2012 . . 5 49.61 5 2,315
Directors in its sole discretion, subject to the preferential and other dividend rights December 1 - 31, 2012 . . 12 49.49 12 1,719
of any outstanding series of our preferred stock. There were no shares of our
Total .............. 25 50.12 25 1,719
preferred stock outstanding at December 31, 2012.
No dividends on our common stock have been declared by our Board of For additional information regarding our share repurchases see Note 15 of the
Directors for more than five years. We have no current plans to pay any dividends Notes to the Consolidated Financial Statements in Part II, Item 8 of this Annual
on our common stock. We currently expect to use our future earnings, if any, for Report.
the development of our businesses or other corporate purposes, which may include
share repurchases.
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