Foot Locker 2004 Annual Report Download - page 69

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23 Shareholder Rights Plan
A Shareholder’s Rights Plan was established in April 1998. On November 19, 2003 the Board of Directors of the
Company amended the Shareholder Rights Agreement between the Company and The Bank of New York, successor Rights
Agent (the “Rights Agreement”), the effect of which was to accelerate the expiration date of the Rights, and to terminate
the Rights Agreement, effective January 31, 2004.
24 Legal Proceedings
Legal proceedings pending against the Company or its consolidated subsidiaries consist of ordinary, routine
litigation, including administrative proceedings, incident to the businesses of the Company, as well as litigation incident
to the sale and disposition of businesses that have occurred in the past several years. Management does not believe that
the outcome of such proceedings will have a material effect on the Company’s consolidated financial position, liquidity,
or results of operations.
25 Commitments
In connection with the sale of various businesses and assets, the Company may be obligated for certain lease
commitments transferred to third parties and pursuant to certain normal representations, warranties, or indemnifications
entered into with the purchasers of such businesses or assets. Although the maximum potential amounts for such
obligations cannot be readily determined, management believes that the resolution of such contingencies will not have
a material effect on the Company’s consolidated financial position, liquidity, or results of operations. The Company is also
operating certain stores for which lease agreements are in the process of being negotiated with landlords. Although there
is no contractual commitment to make these payments, it is likely that a lease will be executed.
The Company does not have any off-balance sheet financing, other than operating leases entered into in the normal
course of business and disclosed above or unconsolidated special purpose entities. The Company does not participate in
transactions that generate relationships with unconsolidated entities or financial partnerships, including variable interest
entities.
26 Shareholder Information and Market Prices (Unaudited)
Foot Locker, Inc. common stock is listed on The New York Stock Exchange as well as on the böerse-stuttgart stock
exchange in Germany and the Elektronische Bo¨rse Schweiz (EBS) stock exchange in Switzerland. In addition, the stock
is traded on the Cincinnati stock exchange. Effective March 31, 2003, the ticker symbol for the Company’s common stock
was changed to “FL” from “Z.”
As of January 29, 2005, the Company had 26,638 shareholders of record owning 156,091,363 common shares.
Market prices for the Company’s common stock were as follows:
2004 2003
High Low High Low
Common Stock
Quarter
1
st
Q ....................................................... $27.59 $21.75 $11.40 $ 9.28
2
nd
Q ....................................................... 25.03 19.97 15.20 10.10
3
rd
Q ....................................................... 24.80 19.98 18.20 13.85
4
th
Q ....................................................... 27.26 22.75 25.97 18.01
During 2004, the Company declared quarterly dividends of $0.06 per share during the first, second and third quarters.
On November 17, 2004, the Company increased the quarterly dividend per share to $0.075, beginning in the fourth quarter
of 2004.
During 2003, the Company declared quarterly dividends of $0.03 per share during the first, second and third quarters.
On November 19, 2003, the Company doubled the quarterly dividend per share to $0.06, beginning in the fourth
quarter of 2003.
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