Ross 2008 Annual Report Download - page 51

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49
Note H: Stockholders’ Equity
Preferred stock. The Company has four million shares of preferred stock authorized, with a par value of $.01 per share. No
preferred stock is issued or outstanding.
Common stock. In January 2008 the Company’s Board of Directors approved a two-year stock repurchase program of up
to $600 million for fiscal 2008 and 2009. In November 2005, the Company’s Board of Directors authorized a two-year stock
repurchase program of up to $400 million for fiscal 2006 and 2007. The following table summarizes the Company’s stock
repurchase activity in fiscal 2008, 2007 and 2006:
Shares repurchased Average repurchase Repurchased
Fiscal Year (in millions) price (in millions)
2008 9.3 $ 32.09 $ 300.0
2007 6.9 $ 29.10 $ 200.0
2006 7.1 $ 28.17 $ 200.0
Dividends. In January 2009, the Company’s Board of Directors declared a quarterly cash dividend of $.11 per common share,
payable on March 31, 2009. The Company’s Board of Directors declared quarterly cash dividends of $.095 per common
share in January, May, August and November 2008, a cash dividend of $.075 per common share in January, May, August and
November 2007, and a cash dividend of $.06 per common share in January, May, August and November 2006.
2008 Equity Incentive Plan. On May 22, 2008, the Company’s stockholders approved the adoption of the Ross Stores, Inc.
2008 Equity Incentive Plan (the “2008 Plan”) with an initial share reserve of 8.3 million shares of the Company’s common stock,
of which 6.0 million shares can be issued as full value awards. The 2008 Plan replaced the 2004 Equity Incentive Plan
(the “2004 Plan”). The 2008 Plan provides for various types of incentive awards, which may potentially include the grant of
stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units,
performance shares, performance units, and deferred compensation awards.