Pier 1 2009 Annual Report Download - page 24

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30APR200900143795
Dividends
In fiscal 2007, the Company announced that its Board of Directors discontinued the Company’s
quarterly cash dividend. The Company believed that discontinuing the cash dividend would provide
financial flexibility as it executed its turnaround strategy. The Company did not pay any cash dividends
in fiscal years 2009 or 2008 and does not currently anticipate paying cash dividends in fiscal 2010. The
Company’s dividend policy in the near term will depend upon the earnings, financial condition and
capital needs of the Company and other factors deemed relevant by the Company’s Board of Directors.
As of February 28, 2009, the Company was restricted under its secured credit facility from paying
certain dividends. Dividend payments are not restricted by the Company’s secured credit facility unless
the availability under the Company’s credit facility over a specified period of time is projected to be
less than $97.5 million. See Note 5 to the Notes to Consolidated Financial Statements for further discussion
of the Company’s secured credit facility.
Performance Graph
The following graph compares the five-year cumulative total shareholder return for the Company’s
common stock against the Standard & Poor’s 500 Stock Index and the Standard & Poor’s Retail Stores
Composite Index. The annual changes for the five-year period shown on the graph are based on the
assumption, as required by the SEC’s rules, that $100 had been invested in the Company’s stock and in
each index on February 28, 2004, and that all quarterly dividends were reinvested at the average of the
closing stock prices at the beginning and end of the quarter. The total cumulative dollar returns shown
on the graph represent the value that such investments would have had on February 28, 2009.
PIER 1 IMPORTS, INC. STOCK PERFORMANCE GRAPH
0
50
100
150
200
250
300
2/28/2004 2/26/2005 2/25/2006 3/3/2007 3/1/2008 2/28/2009
Pier 1 Imports, Inc. S&P 500 Stock Index S&P Retail Stores Composite Index
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
There were no purchases of common stock of the Company made during the three months ended
February 28, 2009, by Pier 1 Imports, Inc. or any ‘‘affiliated purchaser’’ of Pier 1 Imports, Inc. as
defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934.
17