WeightWatchers 2008 Annual Report Download - page 38

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PART II
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of
Equity Securities
Our common stock is listed on the NYSE. Our common stock trades on the NYSE under the symbol
“WTW.”
The following table sets forth, for the periods indicated, the high and low sales prices per share for our
common stock as reported on the NYSE consolidated tape.
Fiscal 2008 (Year ended January 3, 2009)
High Low
First Quarter ....................................................... $50.19 $41.49
Second Quarter ..................................................... $48.65 $35.70
Third Quarter ....................................................... $41.86 $33.09
Fourth Quarter ...................................................... $37.50 $21.56
Fiscal 2007 (Year ended December 29, 2007)
High Low
First Quarter ....................................................... $55.75 $45.17
Second Quarter ..................................................... $53.20 $45.80
Third Quarter ....................................................... $58.24 $47.01
Fourth Quarter ...................................................... $58.20 $44.48
On October 9, 2003, our Board of Directors authorized a program to repurchase up to $250.0 million of our
outstanding common stock. On each of June 13, 2005 and May 25, 2006, our Board of Directors authorized
adding an additional $250.0 million to this program. The repurchase program allows for shares to be purchased
from time to time in the open market or through privately negotiated transactions. No shares will be purchased
from Artal under the program. This program currently has no expiration date. We purchased 2.8 million shares of
our common stock in the open market under the repurchase program during fiscal 2008, at a total cost of $116.0
million. We repurchased no shares of our common stock during the fourth quarter of fiscal 2008. As of the end of
fiscal 2008, $100.5 million remains available to purchase our shares under the repurchase program.
Holders
The approximate number of holders of record of our common stock as of January 31, 2009 was 553. This
number does not include beneficial owners of our securities held in the name of nominees.
Dividends
We have issued a quarterly cash dividend of $0.175 per share of our common stock every quarter beginning
with the first quarter of fiscal 2006. Prior to these dividends, we had not declared or paid any cash dividends on
our common stock since our acquisition by Artal in 1999.
Any decision to declare and pay dividends in the future will be made at the discretion of our Board of
Directors, after taking into account our financial results, capital requirements and other factors it may deem
relevant. Our Board of Directors may decide at any time to increase or decrease the amount of dividends or
discontinue the payment of dividends based on these factors. The WWI Credit Facility (as defined below) also
contains restrictions on our ability to pay dividends on our common stock. See “Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—
Long-Term Debt” in Part II of this Annual Report on Form 10-K for a description of the WWI Credit Facility
and these restrictions.
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