McKesson 2014 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2014 McKesson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 133

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133

McKESSON CORPORATION
26
PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
(a) Market Information: The principal market on which the Company’s common stock is traded is the New York Stock Exchange
(“NYSE”).
The following table sets forth the high and low sales prices for our common stock as reported on NYSE for each quarterly
period of the two most recently completed fiscal years:
2014 2013
High Low High Low
First quarter................................................................................................. $ 119.32 $ 102.68 $ 94.47 $ 85.95
Second quarter............................................................................................. $ 133.33 $ 113.26 $ 97.23 $ 84.65
Third quarter ............................................................................................... $ 166.57 $ 128.84 $ 100.00 $ 85.57
Fourth quarter.............................................................................................. $ 188.02 $ 159.45 $ 111.55 $ 96.67
(b) Holders: The number of record holders of the Company’s common stock at March 31, 2014 was approximately 6,900.
(c) Dividends: In July 2013, the Company’s quarterly dividend was raised from $0.20 to $0.24 per common share for dividends
declared after such date, until further action by the Company’s Board of Directors (the “Board”). The Company declared
regular cash dividends of $0.92 and $0.80 per share in the years ended March 31, 2014 and 2013.
The Company anticipates that it will continue to pay quarterly cash dividends in the future. However, the payment and
amount of future dividends remain within the discretion of the Board and will depend upon the Company’s future earnings,
financial condition, capital requirements and other factors.
(d) Securities Authorized for Issuance under Equity Compensation Plans: Information relating to this item is provided under
Part III, Item 12, to this Annual Report on Form 10-K.
(e) Share Repurchase Plans: Stock repurchases may be made from time-to-time in open market transactions, privately negotiated
transactions, through accelerated share repurchase programs, or by any combination of such methods. The timing of any
repurchases and the actual number of shares repurchased will depend on a variety of factors, including our stock price, corporate
and regulatory requirements, restrictions under our debt obligations and other market and economic conditions.
In 2014, we made no share repurchases. In 2013, we repurchased 13 million shares for $1,159 million at an average price
of $100.82 per share. In 2012, we repurchased 20 million shares for $1,850 million at an average price of $83.47 per share.
The following table provides information on the Company’s share repurchases during the fourth quarter of 2014:
Share Repurchases (1)
(In millions, except price per share)
Total
Number of
Shares
Purchased Average Price
Paid per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced
Programs
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the
Programs
January 1, 2014 - January 31, 2014 — $ — — $ 340
February 1, 2014 - February 28, 2014 — — — —
March 1, 2014 - March 31, 2014 — — — —
Total — — $ 340
(1) This table does not include shares tendered to satisfy the exercise price in connection with cashless exercises of employee stock options or shares tendered
to satisfy tax-withholding obligations in connection with employee equity awards.