Famous Footwear 2004 Annual Report Download - page 16

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Table of Contents
BROWN SHOE COMPANY, INC. 2003 FORM 10-K
action and currently anticipate the case will be tried against the remaining defendants in late 2004. We have also filed a contribution action in
Colorado State Court against the Colorado Department of Transportation, which owns and operates a facility adjacent to the Redfield site.
That case is not yet set for trial.
We have also filed suit against our insurance carriers seeking recovery of the costs incurred for investigation and remediation of the Redfield
site, the damages awarded in the Antolovich class action and other relief. In prior years, we recorded an anticipated recovery of $4.5 million
for remediation costs. We believe insurance coverage in place entitles us to reimbursement for more than the recovery recorded. While the
insurance companies are contesting their indemnity obligations, we believe the recorded recovery is supported by the fact that the limits of
the insurance policies at issue exceed the amount of the recorded recovery, and certain insurance companies have made offers to settle the
claim. We are unable to estimate the ultimate recovery from our insurers, but are pursuing resolution of our claims.
We have completed our remediation efforts at our closed New York tannery and two associated landfills. In 1995, state environmental
authorities reclassified the status of these sites as being properly closed and requiring only continued maintenance and monitoring over the
next 20 years. In addition, various federal and state authorities have identified the Company as a potentially responsible party for remediation
at certain other landfills.
Based on information currently available, we had an accrued liability of $10.4 million as of January 31, 2004 to complete the cleanup,
maintenance and monitoring at all sites. The ultimate cost may vary.
While we currently do not operate manufacturing facilities, prior operations included numerous manufacturing and other facilities for which
we may have responsibility under various environmental laws to address conditions that may be identified in the future.
ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter was submitted to a vote of shareholders during the fourth quarter of fiscal 2003.
PART II
ITEM 5 MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS
Our common stock is listed on the New York Stock Exchange (the “NYSE”) and the Chicago Stock Exchange (the “CSE”) under the trading
symbol “BWS.” As of January 31, 2004, the Company has approximately 4,800 stockholders of record. The following table sets forth for each
fiscal quarter during 2003 and 2002 the high and low sales prices per share of common stock as reported on the NYSE and the dividends
paid.
2003 2002
Dividends Dividends
Low High Paid Low High Paid
1st Quarter $25.10 $30.36 $0.10 $14.81 $21.36 $0.10
2nd Quarter 25.00 31.75 0.10 19.20 28.10 0.10
3rd Quarter 28.30 36.25 0.10 13.80 22.45 0.10
4th Quarter 31.85 39.73 0.10 19.66 29.39 0.10
14