Sunbeam 2011 Annual Report Download - page 32

30
Market for Registrant’s Common Equity
Jarden Corporation Annual Report 2011
Market; Market Price; and Dividends for Registrant’s Common Equity
Jarden Corporation’s (the “Company” or “Jarden”) common stock is traded on the New York Stock Exchange (“NYSE”) under the
symbol “JAH.” As of February 15, 2012, there were approximately 3,500 registered holders of record of the Company’s common
stock, par value $0.01 per share. On February 15, 2012, the last recorded sales price of the Company’s common stock was $34.01.
In January 2012, the Company announced that the Board of Directors of the Company (the “Board”), in connection with the
acceleration of the stock repurchase program (see “Recent Purchases of our Registered Equity Securities by the Issuer and Affiliated
Purchases”), had decided to suspend the Company’s dividend program following the dividend paid on January 31, 2012.
The table below sets forth the intraday high and low sales prices of the Company’s common stock as reported on the NYSE and
cash dividends declared per share for the periods indicated:
Dividends Declared
Per Share
Common Stock Price
2011 2010
2011 2010 High Low High Low
First Quarter $ 0.08625 $ 0.0825 $ 37.50 $ 30.89 $ 35.11 $ 29.34
Second Quarter 0.08625 0.0825 37.50 31.16 34.63 25.50
Third Quarter 0.08625 0.0825 35.17 25.60 31.49 25.55
Fourth Quarter 0.08625 0.0825 34.95 26.52 34.52 30.32
Recent Purchases of our Registered Equity Securities by the Issuer and Affiliated Purchases
In August 2011, the Board authorized a new stock repurchase program that would allow the Company to repurchase up to $500
million of its common stock (the “Stock Repurchase Program”). During August 2011, the Company completed its prior $150 million
stock repurchase program that was authorized in November 2007 and increased in March 2010. There were no shares of the
Company’s common stock repurchased during the fourth quarter of 2011.
On January 26, 2012, the Company commenced a “modified Dutch auction” self-tender offer (the “Offer”) to purchase up to $500
million in value of its common stock at a purchase price of not greater than $33.00 or less than $30.00 per share. On February 21,
2012, the Company extended the expiration date of the Offer from midnight on February 23, 2012 until midnight on March 5, 2012
and increased the purchase price to not greater than $36.00 or less than $32.00 per share. The repurchase of shares of common
stock under the Offer is being made pursuant to the Stock Repurchase Program, pursuant to which the Company is authorized to
repurchase up to $500 million aggregate amount of outstanding shares of common stock at prevailing market prices or in privately
negotiated transactions. On January 23, 2012, the Board authorized an increase in the then available repurchase capacity of the
Stock Repurchase Program to $500 million. The Offer is not conditioned upon any minimum number of shares being tendered, but
is subject to the satisfaction of certain conditions as specified under the Offer, including the successful completion of additional
debt under the Company’s senior secured credit facility.
On March 9, 2012, the Company announced the final results of its modified Dutch auction tender offer, which expired at 12:00
midnight, New York City time, on Monday, March 5, 2012. Based on the final count by Computershare Trust Company, N.A.,
the depositary for the tender offer, a total of 12,080,107 shares of the Company’s common stock were properly tendered and
not withdrawn at or below the final purchase price of $36.00 per share. The Company accepted for purchase all 12,080,107 shares
tendered at or below $36.00 per share, for an aggregate cost of approximately $435 million, excluding fees and expenses related
to the tender offer.