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Table of Contents
PART II
ITEM 5.
MARKET FOR REGISTRANT
’
S COMMON STOCK AND RELATED SHAREHOLDER MATTERS
Market Information
Our common shares have traded on the New York Stock Exchange under the symbol “STX” since December 11, 2002. Prior to that time
there was no public market for our common shares. The high and low sales prices of our common shares, as reported by the New York Stock
Exchange, are set forth below for the periods indicated.
The closing price of our common shares as reported by the New York Stock Exchange on July 26, 2005 was $18.74 per share. As of July
26, 2005 there were approximately 892 holders of record of our common shares. We did not sell any of our equity securities during fiscal year
2005 that were not registered under the Securities Act of 1933, as amended.
Dividends
Price Range
Fiscal Quarter
High
Low
Quarter ending October 3, 2003
$
28.60
$
17.45
Quarter ending January 2, 2004
$
31.35
$
16.70
Quarter ending April 2, 2004
$
21.70
$
14.99
Quarter ending July 2, 2004
$
16.26
$
11.50
Quarter ending October 1, 2004
$
14.59
$
10.11
Quarter ending December 31, 2004
$
18.21
$
12.30
Quarter ending April 1, 2005
$
20.20
$
16.35
Quarter ending July 1, 2005
$
21.50
$
16.42
On March 4, 2005, our board of directors approved the increase of our quarterly dividend from $0.06 per share to no more than $0.08 per
share (up to $0.32 per share annually) so long as the aggregate amount of the dividend does not exceed 50% of our cumulative consolidated net
income plus 100% of net cash proceeds received from the issuance of capital, all of which are measured from the period beginning June 30,
2001 and ending the most recent fiscal quarter in which financial statements are internally available.
We are restricted in our ability to pay dividends by the covenants contained in the indenture governing our senior notes and the credit
agreement governing our senior secured credit facilities. Our declaration of dividends is also subject to Cayman Islands law and the discretion
of our board of directors. In deciding whether or not to declare quarterly dividends, our directors will take into account such factors as general
business conditions within the disc drive industry, our financial results, our capital requirements, contractual and legal restrictions on the
payment of dividends by our subsidiaries to us or by us to our shareholders, the impact of paying dividends on our credit ratings and such other
factors as our board of directors may deem relevant.
Since the closing of our initial public offering in December 2002, we have paid dividends, pursuant to our quarterly dividend policy
totaling approximately $238 million in the aggregate.
18