Seagate 2007 Annual Report Download - page 40
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Table of Contents
Since the closing of our initial public offering in December 2002, we have paid dividends, pursuant to our quarterly dividend policy
totaling approximately $820 million in the aggregate. The following are dividends paid in the last two fiscal years:
Because we had current earnings and profits in excess of distributions for our taxable year ended June 27, 2008, distributions on our
common shares to U.S. shareholders during this period were treated as dividend income for U.S. federal income tax purposes. We anticipate that
we will have earnings and profits in excess of distributions in fiscal year 2009. Therefore, distributions to U.S. shareholders in fiscal year 2009
are anticipated to be treated as dividend income for U.S. federal income tax purposes. Non-
U.S. shareholders should consult with a tax advisor to
determine appropriate tax treatment.
Repurchases of Our Equity Securities
Record Date
Paid Date
Dividend
per Share
August 18, 2006
September 1, 2006
$
0.08
November 3, 2006
November 17, 2006
$
0.10
February 2, 2007
February 16, 2007
$
0.10
May 4, 2007
May 18, 2007
$
0.10
August 3, 2007
August 17, 2007
$
0.10
November 2, 2007
November 16, 2007
$
0.10
February 1, 2008
February 15, 2008
$
0.10
May 2, 2008
May 16, 2008
$
0.12
During fiscal year 2008, we repurchased approximately 65 million common shares through open market repurchases at an average price of
$22.89 for a total of approximately $1.5 billion. Of this amount, we repurchased approximately $974 million under the $2.5 billion August 2006
stock repurchase plan and approximately $500 million under a new plan announced on February 4, 2008, to repurchase up to an additional $2.5
billion of our outstanding common shares over 24 months.
As of June 27, 2008, we had no amounts remaining under the August 2006 stock repurchase plan and had approximately $2.0 billion
remaining under the February 2008 stock repurchase plan. Share repurchases during fiscal year 2008 were as follows:
39
Total Number of
Shares Purchased
Average Price
Paid per Share
Total Number of Shares
Purchased Under
Publicly Announced
Plans or Programs
Approximate Dollar
Value of Shares
That May Yet be
Purchased Under the
Plans or Programs
(in millions)
(in millions)
(in millions)
August 2006 Stock Repurchase
Plan
Total Through 3
rd
Quarter of
Fiscal Year 2008
104.1
$
24.02
104.1
$
—
February 2008 Stock
Repurchase Plan
Total Through 3
rd
Quarter of
Fiscal Year 2008
13.4
$
23.06
13.4
$
2,191
April 2008
9.1
$
21.54
22.5
$
1,995
May 2008
—
—
—
$
1,995
June 2008
—
—
—
$
1,995
Total Through 4
th
Quarter of
Fiscal Year 2008
22.5
$
22.44
22.5
$
1,995