Virgin Media 2010 Annual Report Download - page 145

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 16—Shareholders’ Equity (continued)
The following table summarizes the movement in the number of shares of common stock outstanding during
the years ended December 31, 2008, 2009 and 2010 (in millions):
Number
of shares
December 31, 2007 outstanding shares .................................. 328.9
Net issuances and purchases during the period ........................ 0.1
December 31, 2008 outstanding shares .................................. 329.0
Net issuances and purchases during the period ........................ 1.8
December 31, 2009 outstanding shares .................................. 330.8
Net issuances and purchases during the period ........................ (8.8)
December 31, 2010 outstanding shares .................................. 322.0
During the years ended December 31, 2010, 2009 and 2008, we paid the following dividends:
Board Declaration Date
Per
Share Record Date Payment Date
Total
Amount
(in millions)
Year ended December 31, 2008:
February 6, 2008 ........................ $0.04 March 12, 2008 March 20, 2008 £6.6
May 21, 2008 ........................... 0.04 June 12, 2008 June 20, 2008 6.7
September 2, 2008 ....................... 0.04 September 12, 2008 September 22, 2008 7.1
November 25, 2008 ...................... 0.04 December 12, 2008 December 22, 2008 8.9
Year ended December 31, 2009:
February 27, 2009 ....................... $0.04 March 12, 2009 March 20, 2009 £9.0
May 29, 2009 ........................... 0.04 June 12, 2009 June 22, 2009 8.0
August 27, 2009 ......................... 0.04 September 11, 2009 September 21, 2009 8.1
November 24, 2009 ...................... 0.04 December 11, 2009 December 21, 2009 8.2
Year ended December 31, 2010:
March 2, 2010 .......................... $0.04 March 12, 2010 March 22, 2010 £8.8
May 27, 2010 ........................... 0.04 June 11, 2010 June 21, 2010 9.0
July 23, 2010 ........................... 0.04 September 13, 2010 September 23, 2010 8.2
November 23, 2010 ...................... 0.04 December 13, 2010 December 23, 2010 8.1
Future payments of regular quarterly dividends by us are at the discretion of our Board of Directors and will
be subject to our future needs and uses of cash, which could include investments in operations, the repayment of
debt, and share repurchase programs. In addition, the terms of our and our subsidiaries’ existing and future
indebtedness and the laws of jurisdictions under which those subsidiaries are organized limit the payment of
dividends, loan repayments and other distributions to us under many circumstances.
Capital structure optimization
On July 28, 2010, we announced our intention to undertake a range of capital structure optimization actions.
This capital structure optimization program is expected to include the application of, in aggregate, up to
£700 million, in part towards repurchases of up to £375 million of our common stock until August 2011 and in
part towards transactions relating to our debt and convertible debt, including related derivative transactions. This
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