Snapple 2011 Annual Report Download - page 38

18
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
In the United States, our common stock is listed and traded on the New York Stock Exchange under the symbol "DPS".
Information as to the high and low sales prices of our stock for the two years ended December 31, 2011, and the frequency and
amount of dividends declared on our stock during these periods, is set forth in Note 23 of the Notes to our Audited Consolidated
Financial Statements.
As of February 17, 2012, there were approximately 22,000 stockholders of record of our common stock. This figure does not
include a substantially greater number of "street name" holders or beneficial holders of our common stock, whose shares are held
of record by banks, brokers, and other financial institutions.
The information under the principal heading "Equity Compensation Plan Information" in our definitive Proxy Statement for
the Annual Meeting of Stockholders to be held on May 17, 2012, to be filed with the Securities and Exchange Commission, is
incorporated herein by reference.
During the fiscal years ended December 31, 2011, 2010, and 2009, we did not sell any equity securities that were not registered
under the Securities Act of 1933, as amended.
Dividend Policy
On November 20, 2009, our Board of Directors (the "Board") declared our first dividend of $0.15 per share on outstanding
common stock, which was paid on January 8, 2010 to stockholders of record at the close of business on December 21, 2009. Prior
to that declaration, we had not paid a cash dividend on our common stock since our demerger on May 7, 2008.
Our Board declared dividends of $1.21 and $0.90 per share on outstanding common stock during the years ended December 31,
2011 and 2010, respectively.
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 and 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 after its review of the then current strategy and financial performance and position, among
other things.
Common Stock Repurchases
During the years ended December 31, 2011, 2010, and 2009, the Board authorized the repurchase of an aggregate amount of
up to $3 billion of the Company's outstanding common stock through the following Board actions:
• $200 million of share repurchases were authorized on November 20, 2009
• $800 million of share repurchases were authorized on February 24, 2010
• $1 billion of share repurchases were authorized on July 12, 2010
• $1 billion of share repurchases were authorized on November 17, 2011