Macy's 2008 Annual Report Download - page 19

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities.
The Common Stock is listed on the NYSE under the trading symbol “M.” As of January 31, 2009, the
Company had approximately 25,900 stockholders of record. The following table sets forth for each fiscal quarter
during 2008 and 2007 the high and low sales prices per share of Common Stock as reported on the NYSE
Composite Tape and the dividend declared each fiscal quarter on each share of Common Stock.
2008 2007
Low High Dividend Low High Dividend
1st Quarter ....................................... 21.01 28.47 0.1300 40.88 46.70 0.1275
2nd Quarter ...................................... 14.33 26.30 0.1325 33.61 45.50 0.1300
3rd Quarter ...................................... 7.65 22.96 0.1325 28.51 36.71 0.1300
4th Quarter ....................................... 5.07 12.47 0.1325 20.94 32.57 0.1300
On February 2, 2009, the Company announced that its Board of Directors had determined to reduce the
Company’s quarterly dividend from $0.1325 per common share to $0.05 per common share. The declaration and
payment of future dividends will be at the discretion of the Company’s Board of Directors, are subject to
restrictions under the Company’s credit facility and may be affected by various other factors, including the
Company’s earnings, financial condition and legal or contractual restrictions.
The following table provides information regarding the Company’s purchases of Common Stock during the
fourth quarter of 2008.
Total
Number
of Shares
Purchased
Average
Price per
Share ($)
Number of Shares
Purchased under
Program (1)
Open
Authorization
Remaining (1)($)
(thousands) (thousands) (millions)
November 2, 2008 – November 29, 2008 ............ – – – 852
November 30, 2008 – January 3, 2009 .............. 3 28.47 – 852
January 4, 2009 – January 31, 2009 ................ – – – 852
3 28.47 –
(1) The Company’s board of directors initially approved a $500 million authorization to purchase common
stock on January 27, 2000 and approved additional $500 million authorizations on each of August 25,
2000, May 18, 2001 and April 16, 2003, additional $750 million authorizations on each of February 27,
2004 and July 20, 2004, an additional authorization of $2,000 million on August 25, 2006 and an additional
authorization of $4,000 million on February 26, 2007. All authorizations are cumulative and do not have an
expiration date.
13