Baskin Robbins 2015 Annual Report Download - page 35

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-25-
Dividend policy
During fiscal years 2015 and 2014, the Company paid dividends on common stock as follows:
Dividend per
share
Total amount
(in thousands) Payment date
Fiscal year 2015:
First quarter $ 0.265 $ 25,688 March 18, 2015
Second quarter $ 0.265 $ 25,127 June 17, 2015
Third quarter $ 0.265 $ 25,197 September 2, 2015
Fourth quarter $ 0.265 $ 24,504 December 2, 2015
Fiscal year 2014:
First quarter $ 0.23 $ 24,520 March 19, 2014
Second quarter $ 0.23 $ 24,239 June 4, 2014
Third quarter $ 0.23 $ 23,997 September 3, 2014
Fourth quarter $ 0.23 $ 24,019 December 3, 2014
On February 4, 2016, we announced that our board of directors approved an increase to the next quarterly dividend to $0.30 per
share of common stock payable March 16, 2016.
We currently anticipate continuing the payment of quarterly cash dividends. The actual amount of such dividends will depend
upon future earnings, results of operations, capital requirements, our financial condition and certain other factors. There can be
no assurance as to the amount of free cash flow that we will generate in future years and, accordingly, dividends will be
considered after reviewing returns to shareholders, profitability expectations and financing needs and will be declared at the
discretion of our board of directors.
Unregistered Sales of Equity Securities and Use of Proceeds
The following table contains information regarding purchases of our common stock made during the quarter ended
December 26, 2015 by or on behalf of Dunkin’ Brands Group, Inc. or any “affiliated purchaser,” as defined by Rule 10b-18(a)
(3) of the Securities Exchange Act of 1934:
Issuer Purchases of Equity Securities
Period
Total Number
of Shares
Purchased
Average Price
Paid Per Share
Total Number
of Shares
Purchased as
Part of Publicly
Announced
Plans or
Programs
Approximate
Dollar Value of
Shares that
May Yet be
Purchased
Under the Plans
or Programs
09/27/15 - 10/24/15 2,527,167 $ 39.57 2,527,167 $ 75,007,402
10/25/15 - 11/28/15 — — — 75,007,402
11/29/15 - 12/26/15 — — — 75,007,402
Total 2,527,167 $ 39.57 2,527,167
On January 26, 2015, our board of directors approved a share repurchase program of up to $700.0 million of outstanding shares
of our common stock. Under the program, purchases may be made in the open market or in privately negotiated transactions
from time to time subject to market conditions. On February 4, 2016, our board of directors increased the availability under the
existing share repurchase program to $200.0 million of outstanding shares of our common stock. This repurchase authorization
expires two years from the date of such increase.
On October 22, 2015, the Company entered into an accelerated share repurchase agreement (the "October ASR Agreement")
with a third-party financial institution. Pursuant to the terms of the October ASR Agreement, the Company paid the financial
institution $125.0 million from cash on hand and received an initial delivery of 2,527,167 shares of the Company’s common
stock in October 2015, representing an estimate of 80% of the total shares expected to be delivered under the October ASR
Agreement. Upon the final settlement of the October ASR Agreement, subsequent to fiscal year 2015, the Company received an