Barnes and Noble 2007 Annual Report Download - page 41
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completed on November , with the distribution
of . of a share of GameStop Class B common
stock as a tax-free distribution on each outstanding
share of the Company’s common stock to the Company’s
stockholders of record as of the close of business on
November , .
The Company is provided with national freight distribu-
tion, including trucking services by the Argix Direct Inc.
(Argix) (formerly the LTA Group, Inc.), a company in
which a brother of Leonard and Stephen Riggio owns a
interest, pursuant to a transportation agreement
expiring in . The Company paid Argix ,,
, and , for such services during fi scal
years , and , respectively. The Company
believes the cost of freight delivered to the stores is
comparable to the prices charged by publishers and
other third-party freight distributors. Argix subleases
warehouse space from the Company in Jamesburg, New
Jersey, pursuant to a sublease expiring in . The
Company charged Argix ,, , and , for
such subleased space and other operating costs incurred
on its behalf during fi scal , and , respec-
tively. Rent per square foot is currently estimated to be
at or above market.
The Company uses Source Interlink Companies, Inc.
(Source Interlink) as its primary supplier of music
and DVD/video, as well as magazines and newspapers.
Leonard Riggio is an investor in an investment company
that owns a minority interest in Source Interlink. The
Company paid Source Interlink ,, , and
, for merchandise purchased at market prices
during fi scal , and , respectively. In addi-
tion, during fi scal , Source Interlink spun-off its
Digital on Demand subsidiary, which provides database
equipment and services to the Company. Leonard Riggio
owns a minority interest in Digital on Demand through
the same investment company through which he owns
a minority interest in Source Interlink. The Company
paid Digital on Demand ,, , and , for
database equipment and services during fi scal ,
and , respectively. The Company believes the
cost charged by Digital on Demand is comparable to
other suppliers. Outstanding amounts payable to Source
Interlink for merchandise purchased were , and
, as of February , and February , ,
respectively.
DIVIDENDS 17.
On March , , the Company announced that its
Board of Directors has authorized an increase to its
quarterly cash dividend from . to . per share,
commencing with the dividend to be paid in June .
During fi scal , the Company paid quarterly cash
dividends of . per share on March , to
stockholders of record at the close of business on March
, , on June , to stockholders of record at
the close of business on June , , on September ,
to stockholders of record at the close of busi-
ness on September , , and on December ,
to stockholders of record at the close of business on
December , . The Company also paid a dividend
of . per share on March , to stockholders of
record at the close of business on March , .
During fi scal , the Company paid quarterly cash
dividends of . per share on March , to
stockholders of record at the close of business on March
, , on June , to stockholders of record at
the close of business on June , , on September ,
for stockholders of record at the close of busi-
ness on September , and on December ,
to stockholders of record at the close of business on
December , .
of . of a share of GameStop Class B common
stock as a tax-free distribution on each outstanding
share of the Company’s common stock to the Company’s
stockholders of record as of the close of business on
November , .
The Company is provided with national freight distribu-
tion, including trucking services by the Argix Direct Inc.
(Argix) (formerly the LTA Group, Inc.), a company in
which a brother of Leonard and Stephen Riggio owns a
interest, pursuant to a transportation agreement
expiring in . The Company paid Argix ,,
, and , for such services during fiscal
years , and , respectively. The Company
believes the cost of freight delivered to the stores is
comparable to the prices charged by publishers and
other third-party freight distributors. Argix subleases
warehouse space from the Company in Jamesburg, New
Jersey, pursuant to a sublease expiring in . The
Company charged Argix ,, , and , for
such subleased space and other operating costs incurred
on its behalf during fiscal , and , respec-
tively. Rent per square foot is currently estimated to be
at or above market.
The Company uses Source Interlink Companies, Inc.
(Source Interlink) as its primary supplier of music
and DVD/video, as well as magazines and newspapers.
Leonard Riggio is an investor in an investment company
that owns a minority interest in Source Interlink. The
Company paid Source Interlink ,, , and
, for merchandise purchased at market prices
during fiscal , and , respectively. In addi-
tion, during fiscal , Source Interlink spun-off its
Digital on Demand subsidiary, which provides database
equipment and services to the Company. Leonard Riggio
owns a minority interest in Digital on Demand through
the same investment company through which he owns
a minority interest in Source Interlink. The Company
paid Digital on Demand ,, , and , for
database equipment and services during fiscal ,
and , respectively. The Company believes the
cost charged by Digital on Demand is comparable to
other suppliers. Outstanding amounts payable to Source
Interlink for merchandise purchased were , and
, as of February , and February , ,
respectively.
DIVIDENDS 17.
On March , , the Company announced that its
Board of Directors has authorized an increase to its
quarterly cash dividend from . to . per share,
commencing with the dividend to be paid in June .
During fiscal , the Company paid quarterly cash
dividends of . per share on March , to
stockholders of record at the close of business on March
, , on June , to stockholders of record at
the close of business on June , , on September ,
to stockholders of record at the close of busi-
ness on September , , and on December ,
to stockholders of record at the close of business on
December , . The Company also paid a dividend
of . per share on March , to stockholders of
record at the close of business on March , .
During fiscal , the Company paid quarterly cash
dividends of . per share on March , to
stockholders of record at the close of business on March
, , on June , to stockholders of record at
the close of business on June , , on September ,
for stockholders of record at the close of busi-
ness on September , and on December ,
to stockholders of record at the close of business on
December , .
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200 Annual Report7