Pier 1 2013 Annual Report Download - page 20

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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 2013 and 2012.
Market Price
Fiscal 2013 High Low
First quarter $ 18.80 $ 15.21
Second quarter 18.25 15.24
Third quarter 21.10 18.04
Fourth quarter 22.79 19.08
Fiscal 2012 High Low
First quarter $ 12.42 $ 9.04
Second quarter 12.25 8.90
Third quarter 13.75 9.17
Fourth quarter 17.00 12.65
Number of Holders of Record
The Company’s common stock is traded on the NYSE under the symbol “PIR”. As of April 23, 2013,
there were approximately 8,000 shareholders of record of the Company’s common stock.
Dividends
The Company declared cash dividends of $0.04 per share in each of the first three quarters of fiscal 2013,
and declared a cash dividend of $0.05 in the fourth quarter of fiscal 2013, which totaled $17,989,000 in cash
dividends paid during fiscal 2013. The Company did not pay any cash dividends in fiscal years 2012 or 2011. On
April 4, 2013, subsequent to year end, the Company’s Board of Directors declared a $0.05 per share quarterly
cash dividend on the Company’s outstanding shares of common stock. The $0.05 quarterly cash dividend will be
paid on May 8, 2013 to shareholders of record on April 24, 2013. The Company’s dividend policy depends 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 March 2, 2013, the Company was not precluded under its secured credit facility from paying cash
dividends or repurchasing the Company’s common stock. The Company’s 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 4 to the Notes to Consolidated Financial
Statements for further discussion of the Company’s secured credit facility.
14