Supercuts 2006 Annual Report Download - page 30

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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 the New York Stock Exchange (under the symbol “RGS”). The quotations reflect inter-dealer prices, without retail mark-up, mark-
down or commission, and may not necessarily represent actual transactions.
As of August 24, 2006, Regis shares were owned by approximately 20,500 shareholders based on the number of record holders and an
estimate of individual participants in security position listings. The common stock price was $34.63 per share on August 24, 2006.
The Company paid quarterly dividends of $0.04 per share in fiscal years 2006 and 2005. The Company expects to continue paying regular
quarterly dividends for the foreseeable future.
(c)
Share Repurchase Program
In May 2000, the Company’s Board of Directors (BOD) approved a stock repurchase program. Originally, the program allowed up to
$50.0 million to be expended for the repurchase of the Company’s stock. The BOD elected to increase this maximum to $100.0 million in
August 2003, and then to $200.0 million on May 3, 2005. The timing and amounts of any repurchases will depend on many factors, including
the market price of the common stock and overall market conditions. The repurchases to date have been made primarily to eliminate the
dilutive effect of shares issued in conjunction with acquisitions, restricted stock grants and stock option exercises. As of June 30, 2006, 2005,
and 2004, a total accumulated 3.0, 2.4, and 1.8 million shares have been repurchased for $96.8, $76.5 and $53.4 million, respectively. All
repurchased shares are immediately retired. This repurchase program has no stated expiration date.
Repurchases of the Company’s common stock during the quarter ended June 30, 2006 were primarily part of this repurchase program. In
addition, 9,480 shares of restricted stock were withheld during May 2006 to pay taxes due upon the vesting of that restricted stock. These
shares are included within the total number of shares purchased and the average price paid per share in the table below, which shows the
monthly, fourth quarter fiscal year 2006 stock repurchase activity:
29
2006
2005
Fiscal Quarter
High
Low
High
Low
1 Quarter
$
42.30
$
37.30
$
43.86
$
38.51
2
Quarter
40.67
35.64
46.68
40.75
3
Quarter
42.59
33.49
45.82
39.39
4
Quarter
36.26
33.38
42.15
34.27
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)
4/1/06 - 4/30/06
—
—
—
$
123,473
5/1/06
-
5/31/06
535,564
$
34.73
526,084
105,205
6/1/06 - 6/30/06
59,300
33.93
59,300
103,193
Total
594,864
$
34.65
585,384
$
103,193
st
nd
rd
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