Garmin 2005 Annual Report Download - page 61

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31
PART II
Item 5. Market for the Company’s Common Shares, Related Shareholder Matters and Issuer Purchases of
Equity Securities
The Company’s common shares have traded on the Nasdaq National Market under the symbol “GRMN”
since its initial public offering on December 8, 2000 (the “IPO”). As of February 28, 2006, there were 185
shareholders of record.
The range of high and low closing sales prices of the Company’s common shares as reported on the Nasdaq
Stock Market for each fiscal quarter of fiscal years 2005 and 2004 was as follows:
Year Ended
High Low High Low
First Quarter $62.00 $46.94 $59.47 $39.72
Second Quarter $46.32 $39.50 $44.45 $28.36
Third Quarter $67.34 $41.07 $41.32 $31.51
Fourth Quarter $70.41 $54.64 $61.74 $39.32
December 31, 2005 December 25, 2004
The Board of Directors declared a cash dividend of $0.50 per common share to shareholders of record on
December 1, 2004 which was paid on December 15, 2004. The Board of Directors declared a cash dividend of $0.50
per common share to shareholders of record on December 1, 2005 which was paid on December 15, 2005.
The Board of Directors approved a share repurchase program on April 21, 2004, authorizing the Company
to purchase up to 3,000,000 shares of the Company as market and business conditions warrant. The share
repurchase authorization expires on April 30, 2006. Through December 31, 2005, the Company had repurchased
738,000 shares, however no shares were repurchased in the fiscal quarter ended December 31, 2005. 2,262,000
shares are remaining under the authorized share repurchase program as of December 31, 2005.