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Newell Rubbermaid Inc. 2008 Annual Report
73
MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
The Company’s common stock is listed on the New York and Chicago Stock Exchanges (symbol: NWL). As of January 31, 2009, there were 16,178 stockholders
of record. The following table sets forth the high and low sales prices of the common stock on the New York Stock Exchange Composite Tape for the calendar
periods indicated:
2008 2007
Quarters High Low High Low
First $25.94 $21.24 $32.00 $28.66
Second 24.08 16.68 32.19 28.80
Third 21.38 14.89 29.88 24.22
Fourth 17.59 9.13 29.50 24.69
The Company has paid regular cash dividends on its common stock since 1947. The Company paid a quarterly cash dividend of $0.21 per share from
February 1, 2000 through December 15, 2008. On January 29, 2009, the Company announced a 50 percent reduction in its quarterly dividend to $0.105 per
share. On March 24, 2009, the Company announced a further reduction in its quarterly dividend to $0.05 per share. The payment of dividends to holders of
the Company’s common stock remains at the discretion of the Board of Directors and will depend upon many factors, including the Company’s financial
condition, earnings, legal requirements and other factors the Board of Directors deems relevant.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Operating Income, Excluding Charges
2006 2007 2008
Operating income as reported $ 656.6 $ 740.3 $ 200.8
Add: Restructuring costs 66.4 86.0 120.3
Add: Impairment charges — — 299.4
Operating income, excluding charges $ 723.0 $ 826.3 $ 620.5
Net sales $6,201.0 $6,407.3 $6,470.6
Operating margin 11.7% 12.9% 9.6%
“Normalized” EPS
2006 2007 2008
Diluted earnings (loss) per share from continuing operations, as reported $ 1.71 $ 1.72 $(0.19)
Project Acceleration restructuring costs 0.17 0.25 0.31
Diluted earnings per share from continuing operations, excluding charges $ 1.88 $ 1.97 $ 0.12
One time events:
Tax benefit (0.36) (0.15) (0.10)
Non-cash goodwill impairment charge
—
—
1.07
Purchase of call option with respect to Reset notes
—
—
0.13
“Normalized” EPS $ 1.52 $ 1.82 $ 1.22