Seagate 2007 Annual Report Download - page 39
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Table of Contents
COMPARISON OF 66 MONTH CUMULATIVE TOTAL RETURN*
Among Seagate Technology, The S&P 500 Index
And The Dow Jones US Computer Hardware Index
Copyright
©
2008 S&P, a division of The McGraw-Hill Companies, Inc. All rights reserved.
Copyright
©
2008 Dow Jones & Co. All rights reserved.
Dividends
12/11/02
6/27/03
7/2/04
7/1/05
6/30/06
6/29/07
6/27/08
Seagate Technology
100.00
159.03
125.81
156.44
207.36
202.70
184.86
S&P 500
100.00
105.19
125.29
133.22
144.72
174.51
151.62
Dow Jones US Computer Hardware
100.00
105.80
115.05
133.03
135.88
193.80
193.20
*
$100 invested on 12/11/02 in stock or on 11/30/02 in index
-
including reinvestment of dividends.
Indexes
calculated on month
-
end basis.
We are currently paying our shareholders a quarterly dividend of no more than $0.12 per share (up to $0.48 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 our revolving credit facility. Our declaration of dividends is
also subject to Cayman Islands law and the discretion of our board of directors. Under the terms of the Seagate Technology shareholders
agreement (which was amended on September 2, 2004) at least seven members of our board of directors must approve the payment of dividends
in excess of 15% of our net income in the prior fiscal year (provided that such consent is not required to declare and pay our regular quarterly
dividend of up to $0.12 per share). 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.
38