Stein Mart 2015 Annual Report Download - page 12

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10
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 these routine legal proceedings will have a material adverse effect on our financial condition,
results of operations or cash flows. Also see Note 9 of the Notes to the Consolidated Financial Statements.
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 March 18, 2016,
there were 826 shareholders of record. The following table sets forth the high and low sales prices of our common stock per NASDAQ and
our quarterly cash dividends per common share for each quarter in the years ended January 30, 2016 and January 31, 2015:
2015
2014
High
Low
Dividend
High
Low
Dividend
First Quarter
$16.65
$11.62
$5.075
$14.78
$11.53
$0.050
Second Quarter
12.20
9.77
0.075
14.36
11.56
0.075
Third Quarter
11.48
8.45
0.075
13.91
11.25
0.075
Fourth Quarter
9.15
6.07
0.075
15.45
12.85
0.075
Dividends
In 2015, we paid a special dividend of $5 per common share on February 27, 2015 and a quarterly dividend of $0.075 per common share
on April 17, 2015, July 17, 2015, October 16, 2015 and January 15, 2016. In 2014, we paid a quarterly dividend of $0.05 per common
share on April 18, 2014 and $0.075 per common share on July 18, 2014, October 17, 2014 and January 16, 2015.
On March 15, 2016, the Company announced that its Board of Directors declared a quarterly dividend of $0.075 per common share which
will be paid on April 15, 2016 to shareholders of record on April 1, 2016.
Issuer Purchases of Equity Securities
The following table provides information regarding repurchases of our common stock during the quarter ended January 30, 2016:
Total number of M aximum number
Total Average shares purchased of shares that may
number price as part of publicly yet be purchased
of shares paid per announced plans under the plans or
Period purchased share or programs (1) programs (1) (2)
November 1, 2015 - November 28, 2015 593 7.37 593 268,702
November 29, 2015 - January 2, 2016 1,517 7.55 1,517 767,185
January 3, 2016 - January 30, 2016 46,311 7.36 46,311 720,874
Total 48,421 $7.36 48,421 720,874
ISSUER PURCHASES OF EQUITY SECURITIES
(1) Our Open Market Repurchase Program is conducted pursuant to authorizations made from time to time by our Board of Directors. For the quarter ended January 30,
2016, all shares purchased related to withholding taxes due on the vesting of employee stock awards.
(2) On November 30, 2015 the Board of Directors authorized the repurchase of 500,000 shares of our common stock in addition to amounts previously authorized.