Pier 1 2011 Annual Report Download - page 22

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PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities.
Market Prices of Common Stock
The following table shows the high and low closing sale prices of the Company’s common stock on the
New York Stock Exchange (the “NYSE”), as reported in the consolidated transaction reporting system for each
quarter of fiscal 2011 and 2010.
Market Price
Fiscal 2011 High Low
First quarter $ 9.66 $ 6.37
Second quarter 8.35 5.86
Third quarter 9.92 6.10
Fourth quarter 11.05 9.11
Fiscal 2010 High Low
First quarter $ 2.28 $ 0.11
Second quarter 2.68 1.69
Third quarter 4.85 2.49
Fourth quarter 6.37 3.79
Number of Holders of Record
The Company’s common stock is traded on the NYSE under the symbol “PIR”. As of April 18, 2011,
there were approximately 9,500 shareholders of record of the Company’s common stock.
Dividends
In fiscal 2007, the Company announced that its Board of Directors discontinued the Company’s quarterly
cash dividend. The Company did not pay any cash dividends in fiscal years 2011, 2010 or 2009 and does not
currently anticipate paying cash dividends in fiscal 2012. The Company’s dividend policy in the near term will
depend upon the earnings, financial condition and capital needs of the Company and other factors deemed
relevant by the Company’s Board of Directors.
As of February 26, 2011, the Company was not restricted under its secured credit facility from paying
certain dividends. The Company’s recently amended and restated secured credit facility may limit certain
investments and, in some instances, limit payment of cash dividends and repurchases of the Company’s common
stock. The Company will not be restricted from paying certain dividends unless credit extensions on the line
result in availability over a specified period of time that is projected to be less than 20% of the lesser of either
$300,000,000 or the calculated borrowing base, subject to the Company meeting a fixed charge coverage
requirement when availability over the same specified period of time is projected to be less than 50% of the
lesser of either $300,000,000 or the calculated borrowing base. See Note 5 to the Notes to Consolidated Financial
Statements for further discussion of the Company’s secured credit facility.
16