Pottery Barn 2013 Annual Report Download - page 38

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DIVIDENDS
In fiscal 2013, fiscal 2012 and fiscal 2011, total cash dividends declared were approximately $121,688,000, or
$1.24 per common share, $88,452,000, or $0.88 per common share, and $76,308,000, or $0.73 per common
share, respectively. In March 2014, we announced that our Board of Directors had authorized a 6% increase in
our quarterly cash dividend, from $0.31 to $0.33 per common share, subject to capital availability. Our quarterly
cash dividend may be limited or terminated at any time.
STOCK REPURCHASE PROGRAMS
During fiscal 2013, we repurchased 4,344,962 shares of our common stock at an average cost of $55.07 per share
and a total cost of $239,274,000. During fiscal 2012, we repurchased 3,962,034 shares of our common stock at
an average cost of $39.14 per share and a total cost of $155,080,000. During fiscal 2011, we repurchased
5,384,036 shares of our common stock at an average cost of $36.11 per share and a total cost of $194,429,000.
The following table summarizes our repurchases of shares of our common stock during the fourth quarter of
fiscal 2013 under our current $750,000,000 stock repurchase program:
Fiscal period
Total Number
of Shares
Purchased
Average
Price Paid
Per Share
Total Number of
Shares Purchased as
Part of a Publicly
Announced Program
Maximum
Dollar Value of
Shares That May
Yet Be Purchased
Under the Program
November 4, 2013 – December 1, 2013 102,569 $ 55.43 102,569 $ 528,442,000
December 2, 2013 – December 29, 2013 144,487 $ 58.59 144,487 $ 519,977,000
December 30, 2013 – February 2, 2014 155,754 $ 56.21 155,754 $ 511,222,000
Total 402,810 $ 56.86 402,810 $ 511,222,000
Stock repurchases under this program may be made through open market and privately negotiated transactions at
times and in such amounts as management deems appropriate. The timing and actual number of shares
repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital
availability and other market conditions. This stock repurchase program does not have an expiration date and
may be limited or terminated at any time without prior notice.
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