Plantronics 2006 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2006 Plantronics 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 134

  • 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
  • 134

part ii
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
Repurchases of Equity Securities
Price Range of Common stock
Our common stock is publicly traded on the New York Stock Exchange. The following table sets forth
the low and high sales prices as reported by an independent source, under the symbol PLT, for each
period indicated.
Low High
Fiscal 2005
First Quarter $31.25 $42.84
Second Quarter 34.78 45.06
Third Quarter 39.87 47.93
Fourth Quarter 34.75 42.20
Fiscal 2006
First Quarter $30.93 $39.61
Second Quarter 28.35 39.80
Third Quarter 26.40 30.61
Fourth Quarter 28.13 37.00
Cash Dividends
In the second quarter of fiscal 2005, the Company’s Board of Directors initiated a quarterly cash dividend
of $0.05 per share resulting in a total of $7.3 million of dividend payments. In fiscal 2006, we continued
the quarterly cash dividend of $0.05 per share and paid a total of $9.5 million in dividends.
We have a credit agreement with a major bank containing covenants which limit our ability to pay cash
dividends on shares of our common stock except under certain conditions. We believe that we will
continue in the near future to meet the conditions that make the payment of cash dividends permissible
pursuant to the credit agreement. The following table presents the quarterly dividend payments during
2006.
(in thousands) Dividends
Fiscal 2006
First Quarter $2,367
Second Quarter 2,364
Third Quarter 2,358
Fourth Quarter 2,366
$9,455
The actual declaration of future dividends, and the establishment of record and payment dates, is subject
to final determination by the Audit Committee of the Board of Directors of Plantronics each quarter
after its review of our financial performance.
AR 2006 ⯗39