Stein Mart 2012 Annual Report Download - page 13

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11
We lease all of our store locations, generally for 10 years with options to extend the lease term for two or more 5-year periods. We have
the right to terminate some of these leases before the expiration date under specified circumstances and some with specified termination
payments. Most of our leases provide for fixed minimum rents, as well as contingent amounts based on a percentage of sales in excess of
specified levels. We also lease our 107,000 square foot corporate headquarters in Jacksonville, Florida and a distribution/warehouse
facility in Georgia.
As of February 2, 2013, the current terms of our 263 stores (assuming we exercise all lease renewal options) were as follows:
Number of Leases
Years Lease Term Expire Expiring
2013 3
2014-2017 9
2018-2022 32
2023-2027 80
2028 and later 139
ITEM 3. LEGAL PROCEEDINGS
We are involved in various routine legal proceedings incidental to the conduct of our business. Management, based upon the advice of
outside legal counsel, does not believe that any of these legal proceedings will have a material adverse effect on our financial condition,
results of operations or cash flows.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
Market Price and Related Matters
Our common stock trades on The NASDAQ Global Select Market (“NASDAQ”) under the trading symbol “SMRT”. On April 15, 2013, there
were 914 shareholders of record. The following table sets forth the high and low sales prices of our common stock per NASDAQ for each
quarter in the years ended February 2, 2013 and January 28, 2012:
High Low High Low
First Quarter $7.58 $6.02 $10.95 $7.75
Second Quarter 8.29 6.05 10.94 8.05
Third Quarter 9.34 7.58 9.66 5.65
Fourth Quarter 8.88 6.56 7.48 5.96
2012 2011
Dividends
On November 27, 2012, the Board of Directors declared a special cash dividend of $1.00 per common share that was paid on December
24, 2012 to shareholders of record on December 10, 2012. There were no cash dividends declared or paid in fiscal 2011.