Time Warner Cable 2010 Annual Report Download - page 44

PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
The principal market for the Company’s common stock, par value $0.01 per share (the “TWC Common Stock”), is
the New York Stock Exchange. For quarterly price information for the TWC Common Stock for the two years ended
December 31, 2010, see “Quarterly Financial Information” at page 128 herein, which information is incorporated herein
by reference. The quarterly price information reflects (i) the special cash dividend that was paid by the Company, (ii) the
reclassification of each outstanding share of the Company’s Class A common stock and Class B common stock into one
share of TWC Common Stock and (iii) the Company’s 1-for-3 reverse stock split, each effective on March 12, 2009. There
were approximately 32,000 holders of record of TWC Common Stock as of February 15, 2011.
The Company paid a cash dividend of $0.40 per share of TWC Common Stock in each quarter of 2010, which totaled
$576 million during 2010. On January 26, 2011, the Company’s Board of Directors declared an increased quarterly cash
dividend of $0.48 per share of TWC Common Stock, payable in cash on March 15, 2011 to stockholders of record on
February 28, 2011. TWC currently expects to pay comparable cash dividends in the future; however, changes in TWC’s
dividend program will depend on the Company’s earnings, capital requirements, financial condition and other factors
considered relevant by the Company’s Board of Directors.
Issuer Purchases of Equity Securities
The following table provides information about the Company’s purchases of equity securities registered by the
Company pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, during the quarter ended
December 31, 2010.
Total Number
of Shares
Purchased
Average
Price Paid
Per Share
(a)
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
(b)
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under the
Plans or Programs
(c)
October 1, 2010 - October 31, 2010 ............ — $ — — $ —
November 1, 2010 - November 30, 2010 ........ 3,219,700 $ 62.15 3,219,700 $ 3,799,879,804
December 1, 2010 - December 31, 2010......... 4,805,785 $ 65.42 4,805,785 $ 3,485,485,972
Total ................................... 8,025,485 $ 64.11 8,025,485
(a)
The calculation of the average price paid per share does not give effect to any fees, commissions and other costs associated with the repurchase of
such shares.
(b)
On October 29, 2010, the Company’s Board of Directors authorized a stock repurchase program that allows TWC to repurchase, from time to
time, up to $4.0 billion of TWC Common Stock. As of December 31, 2010, the Company had approximately $3.5 billion remaining under its
stock repurchase program. Purchases under the stock repurchase program may be made, from time to time, on the open market and in privately
negotiated transactions. The size and timing of these purchases will be based on a number of factors, including price and business and market
conditions.
(c)
This amount does not reflect the fees, commissions and other costs associated with the stock repurchase program.
Item 6. Selected Financial Data.
The selected financial information of TWC for the five years ended December 31, 2010 is set forth at pages 126
through 127 herein and is incorporated herein by reference.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
The information set forth under the caption “Management’s Discussion and Analysis of Results of Operations and
Financial Condition” at pages 37 through 67 herein is incorporated herein by reference.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
The information set forth under the caption “Market Risk Management” at pages 62 through 63 herein is
incorporated herein by reference.
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