Big Lots 2008 Annual Report Download - page 82

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14
PART I I
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Effective August 18, 2006, our common shares were listed on the New York Stock Exchange (“NYSE”) under
the symbol “BIG.” Prior to the August 18, 2006 change, our symbol on the NYSE was “BLI.” The following
table reflects the high and low sales prices per common share for our common shares as reported on the NYSE
composite tape for the fiscal periods indicated:
2008 2007
High Low High Low
First Quarter ................................ $28.65 $15.00 $34.55 $23.43
Second Quarter .............................. 34.88 26.03 36.15 24.72
Third Quarter ............................... 35.33 18.99 31.98 22.37
Fourth Quarter .............................. $24.88 $12.93 $22.95 $12.40
Our Board of Directors historically has authorized reinvesting available cash in capital expenditures for
various maintenance and growth opportunities and in share repurchase programs. We historically have not paid
dividends and our Board of Directors is currently not considering any change in this policy. In the event that we
change our policy, any future cash dividend payments would be determined by our Board of Directors taking
into account business conditions then existing, including our earnings, financial requirements and condition,
opportunities for reinvesting cash, and other factors.
On March 9, 2007, we announced our $600.0 million March 2007 Repurchase Program commencing upon
authorization by our Board of Directors and continuing until exhausted. On November 30, 2007, we announced
our $150.0 million November 2007 Repurchase Program commencing upon the completion of the March 2007
Repurchase Program and continuing until exhausted. On December 3, 2007, we completed the March 2007
Repurchase Program. In the first quarter of 2008, we completed the November 2007 Repurchase Program.
Common shares acquired through the repurchase programs are available to meet obligations under equity
compensation plans and for general corporate purposes. During 2007, as part of these announced repurchase
programs, we purchased 30.0 million common shares having an aggregate cost of $712.5 million with an
average price paid per share of $23.76. During 2008, as part of these announced repurchased programs, we
purchased 2.2 million common shares having an aggregate cost of $37.5 million with an average price paid per
share of $17.28.
The repurchased common shares were placed into treasury and are used for general corporate purposes
including the issuance of shares related to employee benefit plans.
At the close of trading on the NYSE on March 25, 2009, there were approximately 1,100 registered holders of
record of our common shares.