Plantronics 2011 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2011 Plantronics 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 103

  • 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

PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER REPURCHASES OF EQUITY SECURITIES
Price Range of Common Stock
Our common stock is publicly traded on the NYSE under the symbol “PLT”. The following table sets forth the low and high
sales prices as reported on the NYSE for each period indicated.
Fiscal 2011
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
Fiscal 2010
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
Low
$ 27.80
26.79
33.30
33.75
$ 11.40
17.28
23.15
24.45
High
$ 34.17
34.28
38.20
38.04
$ 18.31
28.07
27.23
32.13
As of April 30, 2011, there were approximately 70 holders of record of our common stock. Because many of our shares of common
stock are held by brokers and other institutions on behalf of beneficial owners, we are unable to estimate the total number of
beneficial owners. On April 1, 2011, the last trading day of fiscal 2011, the last sale reported on the NYSE for Plantronics’ common
stock was $36.60 per share.
Cash Dividends
In fiscal 2011 and 2010, we declared quarterly cash dividends of $0.05 per share resulting in total dividends declared of $9.7
million and $9.8 million, respectively.
On May 3, 2011, the Company announced that the Board of Directors had declared the Company’s twenty-eighth quarterly cash
dividend of $0.05 per share of the Company’s common stock, payable on June 10, 2011 to stockholders of record on May 20,
2011.
The actual declaration of future dividends and the establishment of record and payment dates are subject to final determination
by the Audit Committee of the Board of Directors of Plantronics each quarter after its review of our financial performance and
financial position.
Share Repurchase Programs
From time to time, the Board of Directors authorizes plans under which we may repurchase shares of our common stock in the
open market, depending on the market conditions.
During fiscal 2009, we repurchased in the open market 1,007,500 shares of our common stock which were remaining under the
1,000,000 repurchase plans each authorized by the Board of Directors on January 25, 2008 and November 10, 2008 The total
cost of these repurchases was $17.8 million with an average price of $17.68 per share.
During fiscal 2010, we repurchased in the open market 1,935,100 shares of our common stock which were under repurchase plans
authorized by the Board of Directors on the following dates: November 10, 2008, November 27, 2009 and March 1, 2010 for
1,000,000 shares each. The total cost of these repurchases was $49.7 million with an average price of $25.66 per share.
During fiscal 2011, we repurchased in the open market 3,315,000 shares of our common stock which were under repurchase plans
authorized by the Board of Directors on the following dates: March 1, 2010, June 4, 2010, August 27, 2010 and March 1, 2011
for 1,000,000 shares each. The total cost of these repurchases was $105.5 million with an average price of $31.83 per share.
Table of Contents
25