Toro 2014 Annual Report Download - page 32

PART II
Preferred Stock – 1,000,000 voting shares and 850,000
ITEM 5. MARKET FOR REGISTRANT’S COMMON
non-voting shares authorized, $1.00 par value, no shares
EQUITY, RELATED STOCKHOLDER outstanding.
MATTERS, AND ISSUER PURCHASES OF
Shareholders – As of December 12, 2014, we had approximately
EQUITY SECURITIES
3,547 shareholders of record.
Our common stock is listed for trading on the New York Stock Purchases of Equity Securities – The following table sets forth
Exchange and trades under the symbol ‘‘TTC.’’ The high, low, and information with respect to shares of our common stock purchased
last sales prices for our common stock and cash dividends paid for by the company during each of the three fiscal months in our
each of the quarterly periods for fiscal 2014 and 2013 were as fourth quarter ended October 31, 2014.
follows:
Total
Fiscal year ended Number of Maximum
October 31, 2014 First Second Third Fourth Shares Number of
Purchased Shares that
Market price per share of common
as Part of May Yet be
stock
Total Average Publicly Purchased
High sales price $65.31 $67.35 $66.30 $63.19
Number of Price Announced Under the
Low sales price 56.96 61.48 58.91 55.77
Shares Paid Per Plans or Plans or
Last sales price 63.36 64.33 59.16 61.73
Period Purchased
1,2,3
Share Programs
1
Programs
1
Cash dividends per share of
common stock
1
0.20 0.20 0.20 0.20 August 2, 2014
through
August 29, 2014 41,963 $60.36 36,678 2,720,493
Fiscal year ended August 30, 2014
October 31, 2013 First Second Third Fourth through
Market price per share of common September 26, 2014 – – – 2,720,493
stock September 27, 2014
High sales price $45.18 $48.59 $50.14 $59.50 through
Low sales price 40.25 43.14 44.17 47.56 October 31, 2014 1,028 56.88 – 2,720,493
Last sales price 44.93 45.19 49.38 58.94 Total 42,991 $60.28 36,678
Cash dividends per share of common
1
On December 11, 2012, the Board of Directors authorized the repurchase of
stock
1
0.14 0.14 0.14 0.14
5,000,000 shares of our common stock in open-market or in privately negotiated
1
During fiscal 2013, our annual dividend guideline was 20 to 30 percent of our transactions. This program has no expiration date but may be terminated by the
three-year average net earnings per share for the current and previous two fiscal Board of Directors at any time.
years. In December 2013, we increased our annual dividend guideline to 30 to
2
Includes 5,285 shares of our common stock surrendered by employees to satisfy
40 percent of our three-year average net earnings per share. However, future minimum tax withholding obligations upon vesting of restricted stock granted
cash dividends will depend upon our financial condition, capital requirements, under our incentive plan. These 5,285 shares were not repurchased under our
results of operations, and other factors deemed relevant by our Board of Direc- repurchase program, described in footnote 1 above.
tors. Restrictions on our ability to pay dividends are disclosed in Item 7, ‘‘Manage-
3
Includes 1,028 units (shares) of our common stock purchased in open-market
ment’s Discussion and Analysis of Financial Condition and Results of Operations’’ transactions at an average price of $56.88 per share on behalf of a rabbi trust
and Note 6 of the Notes to Consolidated Financial Statements included in Item 8, formed to pay benefit obligations to participants in deferred compensation plans.
Financial Statements and Supplementary Data. These 1,028 shares were not repurchased under our repurchase program,
described in footnote 1 above.
Common Stock – 175,000,000 shares authorized, $1.00 par
value, as of October 31, 2014 and 2013. 55,678,419 and
56,788,723 shares outstanding as of October 31, 2014 and 2013,
respectively.
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