Computer Associates 2012 Annual Report Download - page 31

Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity Securities.
Our common stock is traded on The NASDAQ Global Select Market tier of The NASDAQ Stock Market LLC (NASDAQ) under the
symbol “CA.” The following table sets forth, for the fiscal quarters indicated, the quarterly high and low closing sales prices on
NASDAQ:
FISCAL 2012 FISCAL 2011
HIGH LOW HIGH LOW
Fourth Quarter $ 27.91 $ 20.16 $ 25.57 $ 22.43
Third Quarter $ 22.46 $ 18.99 $ 24.89 $ 21.18
Second Quarter $ 23.42 $ 18.62 $ 21.24 $ 17.96
First Quarter $ 25.06 $ 21.35 $ 23.85 $ 18.40
At April 30, 2012, we had approximately 6,500 stockholders of record.
We have paid cash dividends each year since July 1990. For fiscal 2012, 2011 and 2010, we paid annual cash dividends of $0.40,
$0.16 and $0.16 per share, respectively. We paid cash dividends of $0.05 per share in each of the first three quarters of fiscal 2012.
On January 23, 2012, our Board of Directors approved a capital allocation program that targets the return of up to $2.5 billion to
shareholders through fiscal 2014. This includes an increase in the annual dividend from $0.20 to $1.00 per share on our common
stock as and when declared by the Board of Directors and the authorization to acquire up to $1.5 billion of our common stock. We
paid a cash dividend of $0.25 per share for the fourth quarter of fiscal 2012. For fiscal 2011 and 2010, we paid quarterly cash
dividends of $0.04 per share.
Purchases of Equity Securities by the Issuer
The following table sets forth, for the months indicated, our purchases of common stock in the fourth quarter of fiscal 2012:
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
(in thousands, except average price paid per share)
January 1, 2012 — January 31, 2012 14,988 $ 25.02 14,988 $ 1,000,000
February 1, 2012 — February 28, 2012 — — — $ 1,000,000
March 1, 2012 — March 31, 2012 — — — $ 1,000,000
Total 14,988 14,988
On May 12, 2011, our Board of Directors approved a stock repurchase program that authorized us to acquire up to an additional $500
million of our common stock, in addition to the previous $500 million program approved on May 12, 2010.
Under the $2.5 billion capital allocation program approved by our Board of Directors in January 2012, we are authorized to acquire
up to $1.5 billion of our common stock through fiscal 2014, including $232 million remaining at December 31, 2011 under our
previous share repurchase authorizations described above. As part of the capital allocation program, we entered into an accelerated
share repurchase agreement in the fourth quarter of fiscal 2012 with a bank to purchase $500 million of our common stock. The total
number of shares repurchased will depend on our average stock price during the period of the agreement. Under the agreement, we
paid $500 million to the bank for an initial delivery of approximately 15 million shares of our common stock and will either receive
or deliver additional shares at settlement. The fair market value of approximately 15 million shares on the date received was
approximately $375 million. The accelerated share repurchase transaction is expected to be completed by the end of the first quarter
of fiscal 2013.
Under these programs as described above, we repurchased approximately 15 million shares of our common stock for approximately
$500 million during the fourth quarter of fiscal 2012. At March 31, 2012, we remained authorized to repurchase approximately $1
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