MoneyGram 2006 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2006 MoneyGram annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

Table of Contents
PART II
Item 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
Our stock is traded on the New York Stock Exchange under the symbol MGI. Our Board of Directors declared quarterly cash dividends
totaling $0.17 and $0.07 per share of common stock during 2006 and 2005. In addition, the Board of Directors declared a dividend of
$0.05 per share of common stock on February 15, 2007 to be paid on April 2, 2007 to stockholders of record on March 16, 2007. See
"Management's Discussion and Analysis of Financial Condition and Results of Operations — Stockholders' Equity" and Note 12 of the
Notes to Consolidated Financial Statements. As of February 26, 2007, there were approximately 15,937 stockholders of record of our
common stock.
The high and low sales prices for our common stock for fiscal 2006 and 2005 were as follows:
2006 2005
Fiscal Quarter High Low High Low
First $ 31.00 $ 24.97 $ 21.40 $ 18.89
Second 36.20 29.88 20.23 17.94
Third 33.14 28.10 21.71 19.46
Fourth 34.97 27.82 27.24 20.58
On November 18, 2004, our Board of Directors authorized the repurchase, at our discretion, of up to 2,000,000 common shares on the
open market. On August 19, 2005, the Company's Board of Directors increased its share buyback authorization by 5,000,000 shares to a
total of 7,000,000 shares. These authorizations were announced publicly in our press releases issued on November 18, 2004 and
August 19, 2005. The repurchase authorization is effective until such time as the Company has repurchased 7,000,000 common shares.
MoneyGram common stock tendered to the Company in connection with the exercise of stock options or vesting of restricted stock are
not considered repurchased shares under the terms of the repurchase authorization. As of December 31, 2006, we have repurchased
5,175,000 shares of our common stock under this authorization and have remaining authorization to repurchase up to 1,825,000 shares.
In August 2006, the Company's Board of Directors approved a small stockholder selling/repurchasing program. This program enabled
MoneyGram stockholders with less than 100 shares of common stock as of August 21, 2006 to voluntarily purchase additional stock to
reach 100 shares or sell all of their shares back to the Company. We repurchased 66,191 shares of our common stock under this program,
which has ended as of December 31, 2006.
The following table sets forth information in connection with repurchases of shares of our common stock during the quarterly period
ended December 31, 2006.
Total Number of Maximum
Shares Purchased Number of Shares
as Part of that May Yet Be
Publicly Purchased Under
Total Number of Average Price Announced Plan the Plan
Period Shares Purchased Paid per Share or Program or Program
October 1-October 31, 2006 50,588 $ 30.02 50,571 2,420,000
November 1-November 30, 2006 466,160 $ 33.72 465,620 1,970,000
December 1-December 31, 2006 145,000 $ 30.37 145,000 1,825,000
18