Papa Johns 2011 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2011 Papa Johns 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 100

  • 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

23
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
Our common stock trades on The NASDAQ Global Select Market tier of The NASDAQ Stock Market
under the symbol PZZA. As of February 14, 2012, there were 753 record holders of common stock.
However, there are significantly more beneficial owners of our common stock than there are record
holders. The following table sets forth, for the quarters indicated, the high and low closing sales prices of
our common stock, as reported by The NASDAQ Stock Market.
2011 High Low
First Quarter 30.55$ 27.54$
Second Quarter 34.27 29.62
Third Quarter 33.79 27.47
Fourth Quarter 37.92 29.54
2010 High Low
First Quarter 25.82$ 21.77$
Second Quarter 28.76 23.43
Third Quarter 26.30 22.78
Fourth Quarter 27.74 25.49
Since our initial public offering of common stock in 1993, we have not paid cash dividends on our
common stock.
Papa John’s Board of Directors has authorized the repurchase of up to $925.0 million of common stock
under a share repurchase program that began December 9, 1999, and expires December 31, 2012.
Through December 25, 2011, a total of 47.5 million shares with an aggregate cost of $853.5 million and
an average price of $17.98 per share have been repurchased under this program. Subsequent to year-end
(through February 14, 2012), we acquired an additional 60,000 shares at an aggregate cost of $2.2
million. As of February 14, 2012, approximately $69.3 million remained available for repurchase of
common stock under this authorization.