Rite Aid 2012 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2012 Rite Aid 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 126

  • 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

of completing our production of records in response to the subpoena and are unable to predict with
certainty the timing or outcome of any review by the government of such information.
We received a subpoena dated May 9, 2011 from certain California counties seeking information
regarding compliance with environmental regulations governing the management of hazardous waste.
We are completing our production of records in response to the subpoena. We are unable to predict
with certainty the timing or outcome of any review by the government of such information.
We were served with a Civil Investigative Demand Subpoena Duces Tecum dated August 26, 2011
by the United States Attorney’s Office for the Eastern District of Michigan. The subpoena requests
records regarding the relationship of Rite Aid’s Rx Savings Program to the reporting of usual and
customary charges to publicly funded health programs. We are in the process of communicating with
the U.S. Attorney’s Office regarding the scope of the subpoena and are unable to predict with certainty
the timing or outcome of any review by the government of such information.
We are subject from time to time to various claims and lawsuits and governmental investigations
arising in the ordinary course of our business. While our management cannot predict the outcome of
these claims with certainty, our management does not believe that the outcome of any of these legal
matters will have a material effect on its financial statements.
Item 4. Mine Safety Disclosures
Not applicable
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuers Purchases
of Equity Securities.
Our common stock is listed on the NYSE under the symbol ‘‘RAD.’’ On April 10, 2012, we had
approximately 24,997 stockholders of record. Quarterly high and low closing stock prices, based on the
composite transactions, are shown below.
Fiscal Year Quarter High Low
2013 (through April 10, 2012) ...................... First $2.05 $1.65
2012 ........................................ First 1.31 0.98
Second 1.35 0.97
Third 1.33 0.91
Fourth 1.67 1.14
2011 ........................................ First 1.74 1.08
Second 1.18 0.88
Third 1.10 0.87
Fourth 1.41 0.88
We have not declared or paid any cash dividends on our common stock since the third quarter of
fiscal 2000 and we do not anticipate paying cash dividends on our common stock in the foreseeable
future. Our senior secured credit facility and some of the indentures that govern our other outstanding
indebtedness restrict our ability to pay dividends.
We have not sold any unregistered equity securities during the period covered by this report, nor
have we repurchased any equity securities, during the period covered by this report.
Our Chief Executive Officer certified to the NYSE on July 13, 2011 that he was not aware of any
violation by the Company of the NYSE’s corporate governance listing standards.
24