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16
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
Market and Dividend Information
Our common stock trades on the NASDAQ Global Select Market under the symbol HSNI. The table below sets forth the
high and low per share sales prices of our common stock, as reported by the NASDAQ Global Select Market, and the dividends
declared for the periods indicated.
Sales Price
Fiscal 2013 High Low Dividends
Fourth Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 63.54 $ 50.03 $ 0.25
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 65.00 $ 52.79 $ 0.18
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 58.56 $ 50.76 $ 0.18
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 60.87 $ 49.14 $ 0.18
Fiscal 2012
Fourth Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 55.97 $ 47.47 $ 0.18
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 49.71 $ 39.67 $ 0.125
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 41.73 $ 35.74 $ 0.125
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 38.79 $ 34.74 $ 0.125
During the fourth quarters of 2013 and 2012, our Board of Directors approved increases in our quarterly cash dividend of
39% and 44%, respectively. In February 2014, our Board of Directors approved a quarterly cash dividend of $0.25 per share
payable March 19, 2014 to shareholders of record as of March 5, 2014. We currently expect to continue to declare and pay
quarterly dividends of an amount similar to our past declaration. However, any determination to pay cash dividends will be at
the discretion of our Board of Directors and will depend upon our operating results, financial condition and capital
requirements, general business conditions and such other factors that the Board of Directors considers relevant. Our credit
agreement limits the amount of and our ability to pay cash dividends.
Holders
As of January 28, 2014, there were 1,612 shareholders of record of our common stock. Because many of our shares of
common stock are held by brokers and other institutions on behalf of shareholders, we are not able to estimate the total number
of beneficial shareholders represented by these record holders.
Issuer Purchases of Equity Security
On September 27, 2011, our Board of Directors authorized us to repurchase up to 10 million shares of our common stock.
Under the terms of the share repurchase program, HSNi will repurchase its common stock from time to time through privately
negotiated or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18
under the Securities Exchange Act of 1934, as amended, or by any combination of such methods. The timing of any
repurchases and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate
and regulatory requirements, restrictions under the company’s debt obligations and other market and economic conditions. The
repurchase program may be suspended or discontinued by HSNi at any time.