Snapple 2010 Annual Report Download - page 38

On August 11, 2010, our Board declared a dividend of $0.25 per share on outstanding common stock, which was paid on
October 8, 2010, to shareholders of record on September 20, 2010.
On November 15, 2010, our Board declared a dividend of $0.25 per share on outstanding common stock, which was paid on
January 7, 2011, to shareholders of record on December 20, 2010.
On February 10, 2011, our Board declared a dividend of $0.25 per share on outstanding common stock, which will be paid
on April 8, 2011, to shareholders of record on March 21, 2011.
We expect to return our excess cash flow to our stockholders, from time to time through our common stock repurchase program
described below or the payment of dividends. However, there can be no assurance that share repurchases will occur or future
dividends will be declared or paid. The share repurchase programs and declaration and payment of future dividends, the amount
of any such share repurchases or dividends, and the establishment of record and payment dates for dividends, if any, are subject
to final determination by our Board of Directors (the "Board") after its review of the then current strategy and financial performance
and position, among other things.
Common Stock Repurchases
On November 20, 2009, the Board authorized the repurchase of up to $200 million of the Company's outstanding common
stock over the next three years.
On February 24, 2010, the Board approved an $800 million increase in the total aggregate share repurchase authorization,
bringing the total aggregate share repurchase authorization up to $1 billion. On July 12, 2010, the Board authorized the repurchase
of an additional $1 billion of our outstanding common stock over the next three years, which additional authorization may be used
to repurchase shares of our common stock after the funds authorized on February 24, 2010 have been utilized.
Subsequent to the Board's authorizations, we repurchased approximately 31 million shares of our common stock valued at
approximately $1,113 million in the year ended December 31, 2010. Our share repurchase activity for each of the three months
and the quarter ended December 31, 2010 was as follows (in thousands, except per share data):
Period
October 1, 2010 -
October 31, 2010
November 1, 2010 -
November 30, 2010
December 1, 2010 -
December 31, 2010
For the quarter ended
December 31, 2010
Number of Shares
Purchased(1)
2,377
2,458
808
5,643
Average Price Paid
per Share
$ 34.91
36.68
37.08
$ 35.99
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs(2)
2,377
2,458
808
5,643
Maximum Dollar
Value of Shares that
May Yet be
Purchased Under
Publicly Announced
Plans or Programs
$ 1,030,065
939,917
909,956
(1) The total number of shares purchased were purchased in either open-market transactions or purchase plans pursuant to
our publicly announced repurchase program described in footnote 2 below totaling 2,377 thousand shares for the month
of October, 2,458 thousand shares for the month of November, and 808 thousand shares for the month of December.
(2) As previously announced, on November 20, 2009, our Board authorized the repurchase of up to $200 million of the
Company's outstanding common stock during 2010, 2011 and 2012. On February 24, 2010, the Board approved the
repurchase of up to an additional $800 million of the Company's outstanding common stock, bringing the total aggregate
share repurchase authorization up to $1 billion. On March 11, 2010, pursuant to authority granted by the Board, the
Company's Audit Committee authorized the Company to attempt to effect up to $1 billion in share repurchases during
2010 if prevailing market conditions permit. On July 12, 2010, the Board authorized the repurchase of an additional $1
billion of the Company's outstanding common stock over the next three years, for a total of $2 billion authorized. This
column discloses the number of shares purchased pursuant to these programs during the indicated time periods.
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