Barnes and Noble 2005 Annual Report Download - page 45

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[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
44
2005 Annual ReportBarnes & Noble, Inc.
entered into an agreement with Barnes & Noble.com
for marketing services, which includes the issuance of
gift cards. Under this agreement, the Company paid
Barnes & Noble.com $18,153 during fiscal 2003,
which represents reimbursement for gift cards
purchased in a Barnes & Noble store and redeemed on
the Barnes & Noble.com Web site.
Barnes & Noble.com, through its fulfillment centers,
ships various customer orders for the Company to its
retail stores as well as to the Company’s customers’
homes. Barnes & Noble.com charged the Company the
costs associated with such shipments plus any
incremental overhead incurred by Barnes & Noble.com
to process these orders. The Company paid Barnes &
Noble.com $2,662 for shipping and handling during
fiscal 2003. The Company and Barnes & Noble.com
had an agreement whereby the Company paid a
commission on all items ordered by customers at the
Company’s stores and shipped directly to customers’
homes by Barnes & Noble.com. Commissions paid for
these sales were $1,505 during fiscal 2003.
18. DIVIDENDS
On August 18, 2005, the Company announced it had
authorized the initiation of a quarterly cash dividend
of $0.15 per share. Quarterly cash dividends of $0.15
per share were paid on September 30, 2005 to
stockholders of record at the close of business on
September 9, 2005, on December 30, 2005 to
stockholders of record at the close of business of
December 9, 2005 and on March 31, 2006 to
stockholders of record at the close of business on
March 10, 2006. During fiscal 2004, the Company did
not declare or pay any cash dividends or make
distributions or payments on its commom stock.