The Hartford 2010 Annual Report Download - page 27

27
PART II
Item 5. MARKET FOR THE HARTFORD’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
The Hartford’ s common stock is traded on the New York Stock Exchange (“NYSE”) under the trading symbol “HIG”.
The following table presents the high and low closing prices for the common stock of The Hartford on the NYSE for the periods
indicated, and the quarterly dividends declared per share.
1
st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr.
2010
Common Stock Price
High $ 28.58 $ 29.64 $ 24.12 $ 27.43
Low $ 22.34 $ 22.13 $ 19.09 $ 22.26
Dividends Declared $ 0.05 $ 0.05 $ 0.05 $ 0.05
2009
Common Stock Price
High $ 19.68 $ 18.16 $ 28.62 $ 29.20
Low $ 3.62 $ 7.67 $ 10.18 $ 23.16
Dividends Declared $ 0.05 $ 0.05 $ 0.05 $ 0.05
On February 2, 2011, The Hartford’ s Board of Directors declared a quarterly dividend of $0.10 per common share payable on April 1,
2011 to common shareholders of record as of March 1, 2011.
As of February 18, 2011, the Company had approximately 223,500 shareholders. The closing price of The Hartford’ s common stock on
the NYSE on February 18, 2011 was $30.80.
The Company's Chief Executive Officer has certified to the NYSE that he is not aware of any violation by the Company of NYSE
corporate governance listing standards, as required by Section 303A.12(a) of the NYSE’ s Listed Company Manual.
There are also various legal and regulatory limitations governing the extent to which The Hartford’ s insurance subsidiaries may extend
credit, pay dividends or otherwise provide funds to The Hartford Financial Services Group, Inc. as discussed in Part II, Item 7, MD&A –
Capital Resources and Liquidity – Liquidity Requirements and Sources of Capital.
See Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, for
information related to securities authorized for issuance under equity compensation plans.
Purchases of Equity Securities by the Issuer
The following table summarizes the Company’ s repurchases of its common stock for the three months ended December 31, 2010:
Period
Total Number
of Shares
Purchased [1]
Average Price
Paid Per
Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under
the Plans or Programs
(in millions)
October 1, 2010 – October 31, 2010 6,351 $ 23.53 — $ 807
November 1, 2010 – November 30, 2010 4,820 $ 23.95 — $ 807
December 1, 2010 – December 31, 2010 — $ — — $ 807
Total
11,171 $ 23.71 — N/A
[1] Represents shares acquired from employees of the Company for tax withholding purposes in connection with the Company’s stock compensation
plans.
The Hartford’ s Board of Directors has authorized a $1 billion stock repurchase program. The Company’ s repurchase authorization
permits purchases of common stock, which may be in the open market or through privately negotiated transactions. The Company also
may enter into derivative transactions to facilitate future repurchases of common stock. The timing of any future repurchases will be
dependent upon several factors, including the market price of the Company’ s securities, the Company’ s capital position, consideration
of the effect of any repurchases on the Company’ s financial strength or credit ratings, and other corporate considerations. The
repurchase program may be modified, extended or terminated by the Board of Directors at any time.