Dollar General 2010 Annual Report Download - page 102
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10-K
Dividends
We have not declared or paid recurring dividends since prior to our 2007 merger. However, prior
to our IPO, on September 8, 2009, our Board of Directors declared a special dividend on our
outstanding common stock of approximately $239.3 million in the aggregate. The special dividend was
paid on September 11, 2009 to shareholders of record on September 8, 2009 with cash generated from
operations. We have no current plans to pay any cash dividends on our common stock and instead may
retain earnings, if any, for future operation and expansion and debt repayment. Any decision to declare
and pay dividends in the future will be made at the discretion of our Board of Directors and will
depend on, among other things, our results of operations, cash requirements, financial condition,
contractual restrictions and other factors that our Board of Directors may deem relevant. In addition,
our ability to pay dividends is limited by covenants in our Credit Facilities and in the indentures
governing our outstanding 10.625% senior notes due 2015 (the ‘‘Senior Notes’’) and 11.875%/12.625%
senior subordinated toggle notes due 2017 (the ‘‘Senior Subordinated Notes’’ and, collectively with the
Senior Notes, the ‘‘Notes’’). See ‘‘Liquidity and Capital Resources’’ in the Management’s Discussion
and Analysis of Financial Condition and Results of Operations section of this report for a description
of restrictions on our ability to pay dividends.
Issuer Purchases of Equity Securities
The following table contains information regarding purchases of our common stock made during
the quarter ended January 28, 2011 by or on behalf of Dollar General or any ‘‘affiliated purchaser,’’ as
defined by Rule 10b-18(a)(3) of the Securities Exchange Act of 1934:
Maximum
Total Number Number of Shares
of Shares Purchased as that May Yet Be
Total Number Average Part of Publicly Purchased Under
of Shares Price Paid Announced Plans or the Plans or
Period Purchased(a) per Share Programs Programs
10/30/10 - 11/30/10 ................ — $ — — —
12/01/10 - 12/31/10 ................ 11,270 $29.34 — —
1/1/11 - 1/28/11 .................. — $ — — —
Total .......................... 11,270 $29.34 — —
(a) Represents shares repurchased from employees pursuant to the terms of management stockholder’s
agreements.
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