Western Union 2010 Annual Report Download - page 37

PA RT I I
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock trades on the New York Stock Exchange under the symbol “WU.” There were
4,365 stockholders of record as of February 18, 2011. This figure does not include an estimate of the
indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and
clearing agencies. The following table presents the high and low prices of the common stock on the New York
Stock Exchange as well as dividends declared per share during the calendar quarter indicated.
High Low
Dividends
Declared
per Share
Common Stock
Market Price
2010
First Quarter .......................................................................................... $ 20.26 $ 15.68 $ 0.06
Second Quarter ...................................................................................... 19.57 14.83 0.06
Third Quarter ......................................................................................... 17.86 14.65 0.06
Fourth Quarter ....................................................................................... 18.97 17.33 0.07
2009
First Quarter .......................................................................................... $ 15.99 $ 10.05 $ —
Second Quarter ...................................................................................... 18.37 12.08 —
Third Quarter ......................................................................................... 20.64 15.11 —
Fourth Quarter ....................................................................................... 20.09 17.81 0.06
The following table sets forth stock repurchases for each of the three months of the quarter ended December 31,
2010:
Total Number of
Shares Purchased*
Average Price
Paid per Share
Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs**
Remaining Dollar
Value of Shares that
May Yet Be Purchased
Under the Plans or
Programs (In millions)
October 1 – 31 ..................... 819,267 $ 18.01 810,300 $ 471.0
November 1 – 30 .................. 1,627,000 $ 17.96 1,627,000 $ 441.8
December 1 – 31 .................. 1,429,347 $ 18.43 1,424,994 $ 415.5
Total.................................... 3,875,614 $ 18.15 3,862,294
* These amounts represent both shares authorized by the Board of Directors for repurchase under a publicly
announced plan, as described below, as well as shares withheld from employees to cover tax withholding
obligations on restricted stock awards and units that have vested.
** In December 2009, common stock repurchases of up to $1 billion were authorized by the Board of Directors
through December 31, 2012, of which $415.5 million remains available at December 31, 2010. On February 1,
2011, the Board of Directors authorized an additional $1 billion of common stock repurchases through
December 31, 2012. Management has and may continue to establish prearranged written plans pursuant to
Rule 10b5-1. A Rule 10b5-1 plan permits us to repurchase shares at times when we may otherwise be unable to
do so, provided the plan is adopted when we are not aware of material non-public information.
Refer to Note 16 of our Consolidated Financial Statements for information related to our equity compensation
plans.
Dividend Policy
On December 8, 2010 our Board of Directors declared a cash dividend of $0.07 per share payable on
December 31, 2010. During 2010, the Company’s Board of Directors declared quarterly cash dividends of
$0.06 per common share payable on March 31, 2010, June 30, 2010 and October 14, 2010. On December 9,
2009, our Board of Directors declared a cash dividend of $0.06 per share payable on December 30, 2009. The
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