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PART II
Item 5.
Market for the Registrant’s Common Equity and Related Stockholder Matters
(a) Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Regis common stock is listed and traded on the New York Stock Exchange under the symbol “RGS.”
The accompanying table sets forth the high and low closing bid quotations for each quarter during the previous two fiscal years as
reported by Nasdaq through March 26, 2003 (under the symbol “RGIS”) and the New York Stock Exchange (under the symbol “RGS”)
beginning on March 27, 2003. The quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not
necessarily represent actual transactions.
As of August 31, 2005, Regis shares were owned by approximately 25,500 shareholders based on the number of record holders and an
estimate of individual participants in security position listings. The common stock price was $40.95 per share on August 31, 2005.
The Company paid quarterly dividends of $0.03 per share during the first and second quarters of fiscal year 2004. During the third and
fourth quarters of fiscal year 2004 and in each quarter of fiscal year 2005, the Company paid dividends of $0.04 per share. The Company
expects to continue its quarterly dividend rate of $0.04 per share for the foreseeable future.
(c) Share Repurchase Program
In May 2000, the Company’s Board of Directors (BOD) approved a stock repurchase program. Originally, the program allowed up to
$50.0 million to be expended for the repurchase of the Company’s stock. The BOD elected to increase this maximum to $100.0 million in
August 2003, and then to $200.0 million on May 3, 2005. The timing and amounts of any repurchases will depend on many factors, including
the market price of the common stock and overall market conditions. The repurchases to date have been made primarily to eliminate the
dilutive effect of shares issued in conjunction with acquisitions and stock option exercises. As of June 30, 2005, 2004, and 2003, a total
accumulated 2.4, 1.8, and 1.3 million shares have been repurchased for $76.5, $53.4 and $30.9 million, respectively. All repurchased shares are
immediately retired. This repurchase program has no stated expiration date.
26
2005
2004
Fiscal Quarter
High
Low
High
Low
1
st
Quarter
$
43.86
$
38.51
$
35.37
$
29.22
2
nd
Quarter
46.68
40.75
41.18
32.62
3
rd
Quarter
45.82
39.39
44.54
38.93
4
th
Quarter
42.15
34.27
46.00
41.17