Pottery Barn 2014 Annual Report Download - page 38

Download and view the complete annual report

Please find page 38 of the 2014 Pottery Barn 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 188

  • 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
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188

DIVIDENDS
In fiscal 2014, fiscal 2013 and fiscal 2012, total cash dividends declared were approximately $125,378,000, or
$1.32 per common share, $121,688,000, or $1.24 per common share, and $88,452,000, or $0.88 per common
share, respectively. In March 2015, we announced that our Board of Directors had authorized a 6% increase in
our quarterly cash dividend, from $0.33 to $0.35 per common share, subject to capital availability. Our quarterly
cash dividend may be limited or terminated at any time.
STOCK REPURCHASE PROGRAMS
During fiscal 2014, we repurchased 3,331,557 shares of our common stock at an average cost of $67.35 per share
and a total cost of $224,377,000. 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.
The following table summarizes our repurchases of shares of our common stock during the fourth quarter of
fiscal 2014 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 3, 2014 – November 30, 2014 181,129 $ 71.79 181,129 $ 302,984,000
December 1, 2014 – December 28, 2014 106,168 $ 73.38 106,168 $ 295,193,000
December 29, 2014 – February 1, 2015 108,507 $ 76.94 108,507 $ 286,845,000
Total 395,804 $ 73.63 395,804 $ 286,845,000
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.
24