Supercuts 2004 Annual Report Download - page 26

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Table of Contents
PART II
Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters
(a) Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Regis common stock is listed and traded on the New York Stock Exchange under the symbol “RGS.”
The accompanying table sets forth the high and low closing bid quotations for each quarter during the previous two fiscal years as reported by
Nasdaq through March 26, 2003 (under the symbol
“RGIS”) and the New York Stock Exchange (under the symbol “RGS”) beginning on
March 27, 2003. The quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not necessarily
represent actual transactions.
As of August 31, 2004, Regis shares were owned by approximately 25,000 shareholders based on the number of record holders and an estimate
of individual participants in security position listings. The common stock price was $40.93 per share on August 31, 2004.
The Company paid quarterly dividends of $0.03 per share during each quarter of fiscal year 2003 and during the first and second quarters of
fiscal year 2004. During the third and fourth quarters of fiscal year 2004, the Company increased its dividends paid to $0.04 per share. The
Company expects to continue its quarterly dividend rate of $0.04 per share for the foreseeable future.
(c) Share Repurchase Program
In May 2000, the Company’s Board of Directors approved a stock repurchase program under which up to $50.0 million can be expended for
the repurchase of the Company’s common stock. On August 19, 2003, the Board of Directors elected to increase the maximum repurchase
amount to $100.0 million. The timing and amounts of any repurchases will depend on many factors, including the market price of the common
stock and overall market conditions. All repurchased shares are immediately retired. This repurchase program has no stated expiration date.
All repurchases of the Company’s common stock during the quarter ended June 30, 2004 were part of this repurchase program. The following
table shows the monthly fourth quarter fiscal year 2004 stock repurchase activity:
20
2004
2003
Fiscal Quarter
High
Low
High
Low
1
st
Quarter
$
35.37
$
29.22
$
28.20
$
21.84
2
nd
Quarter
41.18
32.62
29.75
24.17
3
rd
Quarter
44.54
38.93
27.21
22.27
4
th
Quarter
46.00
41.17
29.90
25.22
Total Number of
Approximate Dollar
Shares Purchased
Value of Shares that
As Part of Publicly
May Yet Be Purchased
Total Number of
Average Price
Announced Plans
under the Plans or
Period
Shares Purchased
Paid per Share
or Programs
Programs (in thousands)
4/1/04
–
4/30/04
91,700
$
43.97
91,700
$
56,906
5/1/04
–
5/31/04
238,300
43.29
238,300
$
46,590
6/1/04
–
6/30/04
—
—
—
$
46,590
Total
330,000
$
43.48
330,000