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Table of Contents
Acquisition
On August 1, 2015, we completed the acquisition of Kelway by purchasing the remaining 65% of its outstanding common stock which increased our ownership
interest from 35% to 100% and provided us control. For further details regarding the acquisition, see Note 3 (Acquisition) to the accompanying Consolidated Financial
Statements.
Dividends
A summary of 2015 dividend activity for our common stock is as follows:
Dividend Amount
Declaration Date
Record Date
Payment Date
$0.0675
February 10, 2015
February 25, 2015
March 10, 2015
$0.0675
May 7, 2015
May 26, 2015
June 10, 2015
$0.0675
August 3, 2015
August 25, 2015
September 10, 2015
$0.1075
November 4, 2015
November 25, 2015
December 10, 2015
$0.3100
On February 9, 2016, we announced that our Board of Directors declared a quarterly cash dividend on our common stock of $0.1075 per share. The dividend will be
paid on March 10, 2016 to all stockholders of record as of the close of business on February 25, 2016.
The payment of any future dividends will be at the discretion of our Board of Directors and will depend upon our results of operations, financial condition, business
prospects, capital requirements, contractual restrictions, any potential indebtedness we may incur, restrictions imposed by applicable law, tax considerations and other factors
that our Board of Directors deems relevant. In addition, our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or
make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us, in each case, under the terms of our current and any
future agreements governing our indebtedness.
Cash Flows
Cash flows from operating, investing and financing activities are as follows:
Years Ended December 31,
(in millions) 2015
2014
2013
Net cash provided by (used in):
Operating activities $ 277.5
$ 435.0
$ 366.3
Investing activities (354.4)
(164.8)
(47.1)
Net change in accounts payable - inventory financing 95.9
75.5
7.4
Other financing activities (322.4)
(187.5)
(175.7)
Financing activities (226.5)
(112.0)
(168.3)
Effect of exchange rate changes on cash and cash equivalents (3.5)
(1.8)
(0.7)
Net (decrease) increase in cash and cash equivalents $ (306.9)
$ 156.4
$ 150.2
45