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16 STAPLES Form 10-K
iPART II
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
NASDAQ
Our common stock is traded on the NASDAQ Global Select Market under the symbol “SPLS”. The following table sets forth for
the periods indicated the high and low sales prices per share of our common stock on the NASDAQ Global Select Market, as
reported by NASDAQ.
High Low
52 Weeks Ended January 30, 2016
First Quarter $19.40 $15.72
Second Quarter 16.84 13.74
Third Quarter 14.71 11.61
Fourth Quarter 13.50 8.29
52 Weeks Ended January 31, 2015
First Quarter $13.78 $11.04
Second Quarter 13.50 10.70
Third Quarter 13.28 10.82
Fourth Quarter 18.33 12.55
Cash Dividend
Since 2004, we have returned cash to our stockholders
through cash dividends. We paid quarterly dividends for fiscal
year 2015 of $0.12 per share on April 16, 2015, July 16, 2015,
October 15, 2015 and January 14, 2016 resulting in a total
dividend payment of $308 million or $0.48 per share. We paid
quarterly dividends for fiscal year 2014 of $0.12 per share on
April 17, 2014, July 17, 2014, October 16, 2014 and January
15, 2015, resulting in a total dividend payment of $307 million
or $0.48 per share. We paid quarterly dividends for fiscal year
2013 of $0.12 per share on April 18, 2013, July 18, 2013,
October 17, 2013 and January 16, 2014 resulting in a total
dividend payment of $313 million or $0.48 per share.
While it is our intention to continue to pay quarterly cash
dividends in 2016 and beyond, any decision to pay future
cash dividends will be made by our Board of Directors and
will depend upon our earnings, financial condition and other
factors. Our payment of dividends is permitted under our
existing public notes and other financing agreements, although
our revolving credit agreement restricts the payment of
dividends in the event we are in default under such agreement
or such payout would cause a default under such agreement.
In connection with our proposed acquisition of Office Depot,
the agreements governing the term loan we entered into,
and that will govern the asset-based revolving credit facility
if we enter into it, contain (or, in the case of the asset-based
revolving credit facility, are expected to contain) provisions that
restrict us from paying dividends in certain circumstances, and
otherwise restrict us from paying dividends in excess of $0.15
per share, per quarter (see Note R - Proposed Acquisition
of Office Depot in the Notes to the Consolidated Financial
Statements for additional information).
On March 1, 2016, our Board of Directors approved the
payment of a cash dividend of $0.12 per share to be paid on
April 14, 2016 for stockholders of record on March 25, 2016.